News - 02/03/2017

Spotify officially reached 50 million paid Subscribers

Spotify officially reached 50 million paid Subscribers

Spotify, the world's largest streaming music subscription service, announced it reached 50 million paid subscribers. The news was broken via Twitter:

This is Spotify's first user number announcement since the service hit 40 million in September 2016, which means it took the streaming service just five-and-a-half months to gain 10 million subscribers. The figures are especially significant as 2016 was the first year ­streaming overtook physical sales and became a dominant driver of revenues in the music industry, accounting for 51.3 percent of album consumption units and besting physical and downloads combined, ­according to Nielsen Music.

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