Spotify hits 40 million paid subscribers


Spotify co-founder and CEO Daniel Ek said on Twitter this morning that the world’s leading music-streaming service now has forty million paid subscriptions. “40 is the new 30. Million,” reads the tweet. The Swedish service has been ramping up its streaming business for quite some time as it prepares for an initial public offering (IPO) so this should be music to the ears of Spotify’s investors.

On June 20 of this year, the company announced that it had 30 million paid accounts at the time and more than a hundred million users in total so it was basically able to add ten million new subscriptions in about three months.

That’s quite impressive given Apple Music had thirteen million subscribers as of April 26, 2016. During its September 7 iPhone 7 event, Apple revealed it’s since added four million new accounts for a total of seventeen million paid subscriptions on Apple Music.

It was estimated that Apple’s service signed up more than ten million subscribers in its first month. Apple Music is free during its first three months, after which it costs $9.99 per month, or $14.99 for a family of six.

Source: Daniel Ek