Earlier this year we revealed that music streaming platform Spotify had about 15 million paid subscribers with a total of 60 active users. This meant that only 25% of Spotify’s users actually paid to listen to the platform’s service, while the remainder were listening to the free tier which is supported by ads.
However it looks like that number has since increased. The company has recently revealed that they now have 20 million paid subscribers and another 55 million who use the service for free. This is a slight increase compared to before but it seems that Spotify still can’t seem to break the 25% mark. In fact in 2014, the company had 10 million paid subscribers with another 40 million listening for free.
That being said, this still puts Spotify way ahead of the competition. As it stands it seems that France-based Deezer is probably the closest competitor to Spotify but even they pale in comparison with 6 million paid subscriptions. However recently Spotify has managed to raise over half a billion in funding which hopefully will see it used to help the service grow.
In the meantime a recent rumor has suggested that Apple was aiming for 100 million subscribers with Apple Music. Considering that Apple Music has no free tier, a 100 million subscriptions will no doubt see the Cupertino company pull in as much as $1 billion in revenue a month, assuming of course they hit that mark.
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