Spotify has announced that it now has 20 million paid subscribers, the announcement comes after the news earlier today that the company had received additional funding.
As well as announcing that it has 20 million paid subscribers, Spotify also announced that it has a total of 75 million active users, this figure includes free and paid subscribers.
Spotify has managed to double its paid subscribers from 10 million to 20 million in the last year and it also shared some details on how much it has paid in royalties.
The company said that it has paid more than $3 billion in royalties since it launched and it has paid out more that $300 million in the first three months of 2015.
What a difference a year makes! At the end of May 2014, we reached 10 million paying subscribers and 40 million active users. Today, we have reached more than 20 million subscribers and more than 75 million active users. 10 million subscribers in our first five and a half years – and another 10 million subscribers in just a single year! That’s an average of one new subscriber every three seconds over the last year. Wow.
It will be interesting to see what impact the launch of Apple Music has on Spotify, Apple are launching their new streaming service at the end of the month.
Source Spotify