Spotify Now Has 70 Million Paid Subscribers
Spotify today announced on Twitter that it has hit a new milestone, with the streaming music service reaching a total of 70 million paid subscribers.
Over the course of the last six months, Spotify's paid subscriber base has grown by 10 million customers, up from 60 million in late July. When adding in customers who listen to the free ad-supported Spotify tier, the service has more than 140 million subscribers worldwide.
Comparatively, Apple Music has upwards of 30 million paying subscribers. Apple last shared Apple Music metrics in late September, when Apple Music executive Jimmy Iovine said the service had "well over" 30 million subscribers. Since it's been three months since we last heard an update, Apple's current subscriber number is likely closer to 35 million subscribers, based on past growth rates.
In September of 2016, Apple Music
had 17 million subscribers, so growth has nearly doubled over the course of the past year, but that hasn't stopped Spotify from continuing to grow at a rapid pace as well.
Apple Music subscriptions start at $9.99 per month following a free trial (with lower prices available for students), while Spotify continues to offer both a free tier and an upgraded on-demand listening tier also priced at $9.99 per month.
Spotify's new 70 million subscriber milestone comes following a recent confidential IPO filing with Securities and Exchange Commission. Spotify plans to go public through a direct listing, forgoing the traditional initial public offering. Without a traditional IPO, there will be no predetermined price for Spotify shares when it goes public.
Spotify is also currently facing a copyright lawsuit for allegedly using thousands of songs from artists like Tom Petty, Neil Young, Stevie Nicks, and the Doors without a license from publisher Wixen Music.
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Top Rated Comments
In contrast, Spotify needs to convince you to find the app, then download it, then set up an account, then fill in all your payment info to upgrade to a paying account. And Spotify doesn't have media events (or if they do, they're not widely covered), and the ad campaign hasn't been anywhere near as massive.
I love the categories on Spotify and how they change based on the time of the day or season and the personalized playlists. Sharing with friends is also a lot easier. Playing om one device but controlling it from another is great too :)
Also AM has no web player, instant fail for work.
Oh and AM and it’s obnoxious obsession with hip hop can suck it
I have both AM and Spotify since Spotify has a deal where you can get their subscription and a subscription to Hulu for 5 bucks with student email address. I use Spotify way more than AM mainly because of the recommendations
Not sure about that IPO. Spotify is already stingy with royalties and a new shareholder-driven landscape probably won’t help that much. Spotify still loses money, while Apple only has a paid tier and can buffer its music streaming service all it want with its massive war chest. Just like Amazon & books/kindles, they can even operate at a segmental loss and still make gobs of money. Plus, they get customers into the product ecosystem. Spotify is a service-only company. I think competitors like Apple, Amazon, and Google, with their physical products (or, in Google’s case, ads) to bolster profit, will win in the end.