22 March, 2016, USA: Daniel EK, CEO, Spotify has announced that the company now has 30 million paid subscribers. The CEO took to twitter to convey the information to its users. This is the first subscriber update Spotify has given out since it announced it had 20 million subscribers days before Apple Music hit the market last June.
In a time span of nine months, Apple Music has been picking up in the market and has grown to 11 million and on the other hand, Spotify has added 10 million at the same time. On an average, company has been adding 10 million paid subscribers every year (In 2014 it had only 10 million subscribers). With this growth rate, Spotify is looking very positive to give a run for their money to Apple Music.
Spotify has clearly decided to not play the exclusive game with Apple and Tidal, and in the short term that means some of the hottest new music is either put on Spotify late or not at all. But it’s clear that people are paying for Spotify regardless, reports Tech Insider.
Company is currently available in 58 countries. Most these countries are developed nations with booming economy but recently, it has launched its operations in other developing states in Latin America. As per the market report, the company is estimated to be worth US $8 million.