Spotify's Bold New Transition from Streaming Music Service to Music Platform
by Jeff Smith
Spotify today gave an update on the year to date and announced a host of new features.
5 Million Paying Subscribers
As expected Spotify has managed to hit the 5 million paying subscriber mark which is a fantastic achievement, as is the 1 million US paying subs also announced. That translates to 1 million new paying subscribers in just 3 months.
Astonishing growth of Spotify. I'd say nearly half a billion dollars returned to music is a good start and all built on very strong R&D. The next stage for them is creative development and some of their follow initiative seems to indicate that's where they are going. The endgame is what we know as "radio", not sure they'll ever get there but interesting to see them at the head of that.
