The world’s popular digital music streaming service company, Spotify, hits a new subscription milestone as it reach 70 million users. It was announced through their official Twitter account yesterday.
Hello 70 million subscribers ????
— Spotify (@Spotify) January 4, 2018
Last July 2017, the Swedish company’s subscriber count is approximately more than 60 million. Moreover, about 140 million new users from Premium and Basic categories were reported on June 2017.
Meanwhile, Spotify’s top competitor Apple Music reached more than 30 million subscribers for the previous year. Tidal, another subscription-based music streaming service with hi-fi sound quality, has not released any data report yet.
Spotify has been strengthening its ties and renewing its licensing deals to record labels giants such as Sony Music, Universal Music Group, and Warner Music Group. The deal also covers the option of the record companies to keep new albums exclusively available for Spotify Premium users for a limited time. According to the reports, the music streaming service already filed an IPO listing on the New York Stock Exchange with US regulators.
Source: The Verge, Billboard