Spotify are anticipating hitting the 100-million user count by Christmas this year, chief revenue officer Jeff Levick told an advertising conference in New York. Only last November Spotify reached 50 million users, then 75 million by June this year marking it’s spot at the top in both numbers and growth.
This statement comes as Apple Music’s 3-month free trial comes to a close for a lot of users. Apple Music are reported to have around 15 million users however there is much speculation over how many will remain once the free trial ends.
Spotify estimate that with their current growth and conversion rate there will be more than 25 million paying subscribers by the end of 2015. Though that will be roughly a quarter of their userbase it still puts Spotify ahead of its rivals by miles.
There are reports that Spotify plan to change up their freemium model though it’s not yet clear how or when they will do this. Suggestions at the moment point to exclusive content that will only be available to premium users, in the form of early-listening or extended albums.
According to a study by Ericsson over 90 percent of millenials are streaming music. This is clear to see not just in Spotify’s success but the overall success in music streaming as a whole in what some are calling the Age of Streaming in a year when music and video streaming have become commonplace in peoples lives.
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