Spotify is one of the most popular music streaming services in the world. It seems like just about everyone uses it or has used it at some point. Their user base continues to grow despite an onslaught of competition from services like Apple Music.
So it is no wonder that Spotify announced that it has reached a total of 100 million users. This is up from 75 million a few months back. So that means that the music streaming service now has the biggest paid subscriber base in the industry. Congratulations Spotify.
The service has more than 30 million users who are paying for its premium service. The vast majority of users, 70 million to be precise, still tune in for free. They better watch Apple Music if they want to remain on top though. Apple’s music streaming service was launched last year and it already has over 13 million paid subscribers. Even Google has become a competitor with Google Play Music and YouTube.
Amazon is expected to throw its hat in the ring soon too. The future is unclear for Spotify to say the least.It went live in 2006 and has grown continuously for a decade, but Spotify is yet to turn a profit. It pays almost 80 percent of its revenues to record labels and artists who make their music available on the service.