Spotify is currently the king of streaming music, and doesn't seem concerned about Apple's effort to break into the market. Spotify has increased the number of paying customers from 25 percent in January up to 26.7 percent, as the company woos users to pay $10 per month for ad-free music.
In January, the company announced it had 15 million paying subscribers and 60 million active users - but has recently updated those figures:
"What a difference a year makes! At the end of May 2014, we reached 10 million paying subscribers and 40 million active users," according to a Spotify blog post. "Today, we have reached more than 20 million subscribers and more than 75 million active users."
Furthermore, the company has paid more than $300 million in royalties during the first quarter of 2015, now accounting for more than $3 billion paid. Of course, that figure is what is paid to music labels, publishers and copyright holders - which issue a monetary payout to their artists.
Last updated: Jun 16, 2020 at 04:29 pm CDT
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