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:
40 is the new 30.
— Daniel Ek (@eldsjal) September 14, 2016
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.
As a graduate of the University of Massachusetts and our Managing Editor, Colt loves testing out the newest tech products/services. His goal is to help better educate other consumers to ensure the most satisfying purchases decisions on consumer electronics and services. When he is not working on creating new content, Colt enjoys spending time with his two Australian Shepherds, Mia and Zoey.