The popular streaming service has reached a new milestone, surpassing the 50 million paying subscribers mark. Spotify is available in over 60 countries, offering more than 30 million tracks from numerous artists.
The company announced the milestone with a tweet on its official profile.
— Spotify (@Spotify) March 2, 2017
The latest achievement firmly establishes Spotify’s lead among its competition. The streaming company also has an equally large number of free users. Back in June 2016, Spotify announced it had reached 100 million registered users, both free and paying combined. Since then, there were no updates on the overall user count.
Spotify basically has two subscription plans – Free and Premium. The Free plan is ad-supported and has an on-demand access to the Spotify catalog. On the other hand, Premium plan features both online and offline unlimited streaming without ad interruption. It costs $9.99 and can be modified into Family or Student packages.
Still, there are plenty of competitors that are gaining steam. Apple Music, one of the main rivals, announced last December it has reached 20 million paid users which is a respectable number, considering Spotify has had an early start. Tidal, the streaming service owned by rapper Jay-Z, reached three million subscribers in March last year, providing no further updates. It’s worth mentioning that SoundCloud, a rivaling streaming service, and Spotify’s potential acquisition, recently slashed its prices to increase its competitive presence on the market. It yet remains to be seen how and if the lower pricing plans will affect the current market state.
Spotify was officially launched on October 7th, 2008. It is available in most of the Europe, the Americas, Australia, and some parts of Asia. The service is cross-platform developed, meaning it supports a variety of operating systems and devices. The service pays royalties based on the number of streams in total. About 70 percent of total revenue is distributed to right holders, who then pay the artists accordingly, depending on their individual contracts.
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