Spotify has completed a wild year of business. Whispers of an IPO are starting to grow into talks while its growth model seems ready and willing to get the Swedish company into making money for the first time since its inception in 2008.
Last March, we told you that Spotify struck 30 million users who were paying for its Premium service. In September, that number grew to 40 million. This week, the music streaming service announced that it has grown to 50 million subscribers.
— Spotify (@Spotify) March 2, 2017
Apple Music is no slouch either, achieving its first 20 million subscribers in 15 months (18 months minus three for its free trial period). But it seems that Eddy Cue was mistaken in talking up his company’s offering as the “fastest growing” in the industry.
We’d like to know how many ad-supported users are now on the service at this point, but if we’re assuming continuous growth, we’re probably talking well over 100 million of them at this point.