Spotify Announces 75M Active Users, Raises $526M Following Apple Music Debut

SpotifySpotify today announced that it now has more than 75 million active users and 20 million paid subscribers worldwide as the Sweden-based streaming music service prepares to compete with Apple Music, available June 30 on iPhone, iPad, iPod touch, Mac and PC.

Spotify doubled the 10 million paid subscribers it had through May 2014 in just one year, and has now paid over $3 billion in royalties to artists, songwriters and rights holders, including more than $300 million in the first three months of 2015 alone.

The Wall Street Journal reports that Spotify has also raised $526 million in a funding round that values the company at $8.53 billion, giving it significantly more financial backing to take on Apple Music and other rivals in the increasingly competitive streaming music market. Spotify will reportedly invest the capital raised from investors in expansion and new forms of content to further differentiate itself.

Apple Music vs Competitors

Apple Music and Spotify Premium both cost $9.99 per month (Image: WSJ)

Spotify operates at a loss due to significant royalties and revenue sharing with music label partners, although the company aims to become profitable through continued subscriber growth. The company announced plans last month to add video programming and podcasts from partners such as ABC, BBC, ESPN, NBC, Comedy Central, Conde Nast, Maker Studios, Turner Broadcasting and Vice Media.

Apple Music was announced earlier this week as a streaming music service, live global radio station and social platform for artists to connect with fans. The subscription-based service costs $9.99 per month with a three-month free trial for iPhone, iPad, iPod touch, Mac and PC. Apple TV and Android versions of the service will be available in the fall. Apple Music launches June 30 on iOS 8.4 and iTunes.

Popular Stories

maxresdefault

Apple's AirPods Pro 2 vs. Samsung's Galaxy Buds3 Pro

Saturday July 13, 2024 8:00 am PDT by
Samsung this week introduced its latest earbuds, the Galaxy Buds3 Pro, which look quite a bit like Apple's AirPods Pro 2. Given the similarities, we thought we'd compare Samsung's new earbuds to the AirPods Pro. Subscribe to the MacRumors YouTube channel for more videos. Design wise, you could potentially mistake Samsung's Galaxy Buds3 Pro for the AirPods Pro. The Buds3 Pro have the same...
iPhone 15 Pro Cameras

iPhone 17 Pro Max Will Be First Model to Feature Three 48MP Cameras

Thursday July 11, 2024 12:20 am PDT by
Next year's iPhone 17 Pro Max will feature an upgraded 48-megapixel Tetraprism camera for enhanced photo quality and zoom functionality, according to Apple analyst Ming-Chi Kuo. In his n-iphone-tetraprism-upgrade-ca62dd37e364">latest investor note published to Medium, Kuo said the key specification change would be a 1/2.6" 48MP CIS sensor, up from the 1/3.1" 12MP sensor expected to be used...
iPhone 16 Pro Sizes Feature

iPhone 16 Series Is Just Two Months Away: Everything We Know

Monday July 15, 2024 4:44 am PDT by
Apple typically releases its new iPhone series around mid-September, which means we are about two months out from the launch of the iPhone 16. Like the iPhone 15 series, this year's lineup is expected to stick with four models – iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and iPhone 16 Pro Max – although there are plenty of design differences and new features to take into account. To bring ...
Beyond iPhone 13 Better Blue Face ID Single Camera Hole

10 Reasons to Wait for Next Year's iPhone 17

Monday July 8, 2024 5:00 am PDT by
Apple's iPhone development roadmap runs several years into the future and the company is continually working with suppliers on several successive iPhone models simultaneously, which is why we sometimes get rumored feature leaks so far ahead of launch. The iPhone 17 series is no different – already we have some idea of what to expect from Apple's 2025 smartphone lineup. If you plan to skip...
primeday2020 feature3

The Best Early Prime Day Deals on Apple Products

Saturday July 13, 2024 6:23 am PDT by
Amazon is soon to be back with its annual summertime Prime Day event, lasting for just two days from July 16-17. As it does every year, Prime Day offers shoppers a huge selection of deals across Amazon's storefront, and there are already many deals you can get on sale ahead of the event. Note: MacRumors is an affiliate partner with Amazon. When you click a link and make a purchase, we may...

Top Rated Comments

a.gomez Avatar
119 months ago
meh,... remember when Ping was going to kill facebook. Maps was game over for google... iAd was the end of Google ads. ITunes radio? was going to kill Pandora. iCloud, so much for dropbox. iBooks, so long Kindle... Right? not really.

In the end nothing happened - hell some of those Apple services are now in the mud. Apple services are hit and miss.
Score: 17 Votes (Like | Disagree)
Razeus Avatar
119 months ago
Too bad Spotify's mobile UI is a nightmare. Tap, tap, tap, back, back, back, tap, tap, tap.
Score: 17 Votes (Like | Disagree)
thekeyring Avatar
119 months ago
Apple Music is interesting enough a product that I'm going to sign up on day 1 for a trial and see how things go from there.

It doesn't bode well that Spotify still isn't profitable despite currently being the industry leader.
Score: 16 Votes (Like | Disagree)
EvilEvil Avatar
119 months ago
Competition is good.
Score: 15 Votes (Like | Disagree)
wesk702 Avatar
119 months ago
Wish Apple Music had a student subscription like Spotify.
Score: 14 Votes (Like | Disagree)
Brucewaynnee Avatar
119 months ago
Being able to use Siri to choose a song while I'm driving plus this FREE 3 month subscription may just make me convert from Spotify.
Score: 13 Votes (Like | Disagree)