Spotify hits 100 million users
Swedish streaming music service hits major milestone, but still operating at a loss.
Spotify's last user count was 75 million; this week it confirms it's hit the 100 million mark.
What's more, 30 million of those are paid subscribers, meaning the service is bringing in $300 million each month even before advertising revenue. It's not all roses, though: the Swedish company spends over 80 percent of its revenue on rights and is yet to show a profit. Last year it reported an operating loss of $209 million, up from $165 million the previous year.
Meanwhile, Apple Music claims 13 million paid users.
NEWS SOURCE:reuters.com
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