Moving on Up - Spotify Passes 60 Million Subscribers

02 August, 2017, 00:51 | Author: Regina Lloyd
  • Krales  The Verge

The dominance of Spotify in the streaming music space continues to grow, as the company revealed new subscriber numbers on Monday: 60 million. The service is available in 60 markets and counts over 30 million songs available to users.

The next competitor to Spotify is Paris-based Deezer, which is especially strong in continental Europe and said in January 2016 that it had six million paying subscribers.

The streaming giant announced the July 2017 figure on its About page, following news in March that it had reached the 50 million milestone.

According to a recent report by TechCrunch, Spotify is preparing to go public, the company will apparently use a "direct listing". So far, the company has commissioned and also partnered with other media companies for a series of podcasts about music. Although details of the deal were not made public, it's presumed to be the same agreement that the company had with Universal Music Group. In return, the hosts will reportedly shout out Spotify on their shows and on social media.

Spotify has spent the previous year striking deals to pay lower royalties to music labels such as Universal Music and Sony Music.

Streaming has helped the music business chart two years of bumper growth after long stagnation, although artists often question how much of the money comes back to them.

One can estimate that soon the number of paying subscribers will be overtaking that of free tier users.

According to Bloomberg, Spotify is considering investing heavily in podcasts that have been largely dominated by Apple's iTunes.



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