Spotify keeps increasing and growing as the favourite for music lovers who would rather stream as their go-to method for listening. Spotify has subscribers that are more than those on Apple Music, Tidal and Pandora.
Spotify announced that they topped 70 million paid subscribers, following the unconfirmed news that they had filed documents for an eventual IPO , which would put the company on stock exchange listings before the first half of 2018. This could mean that Spotify is only growing stronger.
Hello 70 million subscribers ?
— Spotify (@Spotify) January 4, 2018
This information means that, on average, the company is adding about 10 million premium users to its user base every five to six months, which means that their value, especially for investors, is only increasing. The Verge reported that they were up near 140 million total users last year.
The competition is also struggling to keep up as well. Apple Music took nearly a year to go from 20 million users to over 30 million, but experts have said in the past that all other music streaming services have numbers that pale in comparison to those listed at Spotify. Only time will tell if the company can keep up this pace in terms of growth or if their user base increase will eventually plateau, but one thing is for sure: Spotify is a force of nature that cannot be touched within the industry.