Spotify Increases Paid Subscriber Base by 25% In Just 6 Months

During last week's iPhone event, Tim Cook spoke of Apple Music's success surpassing a milestone of 17M paying subscribers. While this is a commendable feat for a streaming service that has only been in operation for 15 months, Spotify's new milestone puts in a better perspective for the streaming market share.

Daniel Ek, the CEO of Spotify, shared the following tweet earlier this morning:

This tweet references a new milestone for the company, reaching a whopping 40M paying subscribers each month. Compared to Apple's announcement, this subscriber count is staggering and means they are up 10M users over the past six months making a 25% growth in only a half a year.

Spotify's advantages to gaining market share seem to fall on their decision to extend family plans for up to six users and cut the price of this subscription to just $15/month. Additionally, stats in the past show there are well over 100M users on the platform including roughly 60M who opt for the freemium, ad-based tier.

Via: Engadget
Source: Twitter