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Spotify hits 10 million Premium subscribers milestone

Claims 70 percent of early adopts have stuck with service
Wed May 21 2014, 14:33
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MUSIC STREAMING SERVICE Spotify announced on Wednesday that it has hit 10 million paying subscribers.

Spotify took to its website to announce the milestone, boasting 10 million paid-for subscribers, up from the six million it had in March last year.

While it has 10 million streamers coughing up for a premium account that costs £9.99 a month, Spotify said it has an additional 30 million users accessing the service, which means that one in four is paying for the firm's premium offering.

Spotify said in a blog post, "Today we are thrilled to announce a special milestone - we now have 10 million paying subscribers and more than 40 million active users across 56 markets! Wow - we're incredibly grateful to the thousands of artists and millions of music fans around the world who have helped us reach this point.

"What a trip! Thank you for building, growing, and listening with us."

Along with the news that it has 10 million paying subscribers, Spotify revealed some more interesting facts about its service. For example, it revealed that the music streaming service is home to 1.5 billion playlists, with an additional five million being created or updated each day.

Spotify also revealed some odder data points, including the fact that Thursday afternoon between 4-5pm is the busiest time for music streaming, and that 70 percent of Premium users who signed up in 2010 are still paying for access to the service.

News of Spotify hitting 10 million subscribers comes just a month after it rolled out its biggest redesign yet, addressing many of the criticisms that users had expressed. µ

 

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