The notion that the ‘age of downloads’ is over is a hot topic among industry professionals right now. Spotify has emerged as the platform of the future and the stats absolutely show it.
According to the latest round of numbers released by Spotify yesterday, the global streaming giant has now crossed the 100 million users a month threshold in addition to adding almost 2 million new users every month. Both of which are enormous feats which speaks to the growing market that streaming has become today.
Of that 100 million users, and presumably the 2 million new members as well, 30% of the users are paid subscribers.
Interestingly enough, while Spotify’s revenues soared 80% making it Europe’s most valuable start-up, its losses also rose 10% which raises questions about the sustainability of its business model.
The success of Spotify since its inception has 2008 has seen other competitors such as Tidal, Apple Music, and potentially Amazon join the streaming game in recent memory.