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.
Hello 70 million subscribers 👏 — Spotify (@Spotify) January 4, 2018
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.