14 November 2018

Listen to Pump it up Magazine RADIO

Spotify surpasses 70m global subscribers – adding 20m in past 10 months

Spotify has added 10m subscribers to its service in the past five months – enough to push it beyond the 70m paying customer milestone.

The Swedish company, which recently filed papers with the SEC ahead of a direct listing attempt on the New York Stock Exchange, confirmed the figure earlier today.

The announcement means that Spotify has managed to add 20m paying subs to its customer base since March 2017, when it officially surpassed 50m.

That’s an impressive average addition of 2m subscribers per month across a solid 10 month period.

Spotify’s main rival in the music streaming market, Apple Music, is understood to be adding around closer to one million subscribers per month, judging by recent corporate announcements (see below).

The 70m subs news is good timing for Spotify, as it hopes to whip up investor excitement ahead of its flotation.

However, the company has some headaches to solve: not least a $1.6bn lawsuit from Neil Young publisher Wixen, which claims that Spotify has benefitted from widespread ‘wilfull copyright infringement’ regarding mechanical licenses in the US market.Music Business Worldwide

About Pump It Up Magazine 879 Articles
Top Digital & Print Entertainment Magazine !Audience : A total combined audience of over 27000 readers and 33250 website Visitors per month Reach : Available everywhere around the world. Currently over 200 countries log-on every day. • Gender : 55% Male | 45% Female • Age Demo : 25-64 (Website) We are proud to be one of the few media companies with an authentic launching pad for unsigned talent. WE FEATURE Independent Music ! Movie Makers ! Fashion Designers ! Writers,And more! All musical genres are welcome!
en English
X