On Thursday, Music streaming service Spotify confirmed to achieve the milestone of 50 million paid subscribers. With this announcement, the company has extended its lead over its closest rival Apple Music.
It is interesting to note that Spotify grew 25% in last six months. The company confirmed 40 million subscribers in September last year. The company was launched back in 2008 and it took 4 years to hit the first 10 million subscribers mark.
Thank you to our 50 million subscribers. #Spotify50 pic.twitter.com/eXkOV71bwu
— Spotify (@Spotify) March 2, 2017
Spotify has yet to show the profit, but it has now presence in many countries. The company is also thinking for U.S. stock market listing.
Apple Music confirmed to achieve 20 million paid subscribers mark in December.
Both Apple and Spotify charge users $10 per month to access their music library. The only major difference is the ad-supported limited stream offer available in Spotify. Apple has no free offering. This is a big reason why Spotify is still popular and is leading with a big margin.
Spotify and Apple have clashed several times over the past few months. When Apple started getting exclusive music album rights, Spotify started punishing those artists by giving less priority to their content and offering fewer promotional opportunities.
It is worth to mention that Spotify is now testing lossless audio streaming for those who have bandwidth to handle it and want to enjoy better music.
