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Spotify hits 10 million paid users

With rumored news of Apple entering the music streaming war with a possible Beats acquisition, Spotify has proved it’s not going to hand over the reigns so easily. Subscribers have been increasing rapidly from December 2012 when it reported five million paying users and now, as of today, Spotify has reached the 10 million paid users milestone. The Swedish-based service’s total user base now includes 40 million users around the world, up from 24 million announced in March.

Compared to other streaming competitors, Spotify still comes out on top against Rhapsody, Rdio, Deezer, Google Play Music All Access and Beats. Investors have valued Spotify at more than $4 billion, sparking rumors of an initial public offering happening shortly. Check out Dancing Astronaut’s Spotify account here.

“We’ve had an amazing year, growing from 20 markets to 56 as people from around the world embrace streaming music,” Daniel Ek, Spotify’s chief executive and co-founder, said in a statement. “Ten million subscribers is an important milestone for both Spotify and the entire music industry.”

Read More via The New York Times

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