It’s been 5 months since Spotify reached the half a million mark for paid subscribers and they’ve already passed 60 million.
Spotify have announced their latest milestone, surpassing 60 million subscribers paying for their Premium tier of music streaming. It’s massively impressive alone but considering Spotify revealed in March the numbers were at 50 million that means that roughly 2 million paying users are joining a month. That’s more in a month than some rival streamers have over all.
Earlier this year in June Spotify had 140 million total active users, including free, ad-supported streamers. This suggests that Spotifys efforts in encouraging people to go Premium are working as they’re nearing 50-50. This is no doubt helping Spotify’s relationship with the music industry which has been rocky in the past but has recently seen the streaming service sign new deals with 2 of the 3 major labels, Sony and Universal, with Warner looking close to finalising.
These incredible numbers will no doubt be boosting Spotify’s ambitions to go public with an IPO. Spotify have been looking to go for an IPO (initial public offering) for a long time now however have been waiting for security to make it a viable move, but with record numbers of growth and fresh new label deals things are looking up for the previously controversial service.