Spotify Music Subscribers News: 60 Million Users, Including 15 Million Paying
After Taylor Swift pulled out her music from Spotify two months ago, the music streaming service announced that it is ringing in the New Year with a total of 60 million users and 15 million paying subscribers as of Monday.
This makes Spotify the world's leader in the market for on-demand music streaming services. Trailing by a large margin is Deezer, which claims to have 16 million active users and 6 million paying subscribers.
Spotify said its paying subscribers shell out $10 every month for streaming music without hearing paid advertisements.
"We had an amazing 2014 at Spotify and we owe it all to you, the music fans who listen, discover, share and celebrate music and artists with us every day of the year," Spotify said in a statement.
"And before 2014 turned into 2015, we reached 15 million subscribers and 60 million active users!" it announced.
However, the Stockholm-based company failed to disclose how much revenues it generated in 2014.
In November 2014, Spotify said it had 50 million users and about 12. 5 million paying subscribers all over the world. This was the time when Taylor Swift pulled out her new album, 1989, along with her entire catalog from Spotify. Swift said music streaming services like Spotify undervalue her art.
Back in May 2014, the number stood at 40 million active listeners with 10 million paying subscribers.
With its accelerating growth rate, the online music company has increased its user base by another 10 million over the course of just a few weeks.
Early in December, Spotify launched a promotion offering three months of its Premium service for $0.99 instead of the standard $9.99 a month in the United States, which represents a small portion of the new paid user growth, according to Spotify.
In 2013, Spotify posted $1.03 billion in revenues and $80 million in net losses.
The new figures imply, according to Mashable, that Spotify could be making as much as $1.8 billion from its subscription services on top of the money it is making from advertising.