Spotify is undoubtedly one of the leading music streaming platforms out there. The company has seen tremendous growth over the years and is now reporting that it has 60 million paying subscribers. Spotify has updated its About page where it also updated its subscriber counts which it says now stands at 60 Million.
In March this year, Spotify reported that it had 50 million paying subscribers. Reaching 60 million in just a couple of months shows that the company was able to convert 10 million users into paying subscribers, something most other music streaming services struggle to achieve. The total number of active users on the site remains at 140 million and this makes it even more interesting as it means that Spotify has not just attracted new users, but it has converted those on the free package into being paying subscribers, quite impressive.
If you are a company offering both free and paid packages, I am sure this is something you aim to achieve. You do not just want to keep attracting new users but rather converting the ones you already have.
At the moment, Spotify is officially available in 60 markets but there are workarounds for those who are in markets that it is not officially available in. It has over 30 million songs and the company reports that as of September 2016, it paid $5 billion to the music rights holders.
Compared to Apple Music, Spotify is doing really well, the former currently has 27 million paying subscribers. Spotify seems to attract music lovers in general while Apple Music attracts specific fans and that is why even though Apple Music comes pre-installed in iPhones and offers three months free trial period, it has not attracted that many paying subscribers as most people expected.