Swedish track streaming carrier Spotify said on Monday its consumer base had grown to one hundred million, up from 75 million previously, because it driven into new markets and despite competition from the likes of Apple song.
Spotify has the track streaming enterprise’s largest paid subscriber base, with 30 million customers paying to listen, however the widespread majority nevertheless music in totally free with industrial breaks.
competition is fierce with Apple song released just remaining 12 months and already claiming 13 million paid users whilst Alphabet’s Google competes with Google Play song and YouTube.
assets have advised Reuters that Amazon.com is preparing its own standalone service.
Spotify, founded in 2006, will pay more than 80 percent of its revenue to report labels and artists and has now not yet shown a income because it spends to develop internationally.
ultimate year, it made an working loss of EUR 184.five million ($209 million), widening from EUR one hundred sixty five.1 million in 2014.