The music streaming service Spotify has further expanded its role as market leader. The Swedes can now look back on more than 60 million paying users. On Tuesday, the company from Stockholm updated the number of users on the website . Within just under six months, Spotify was able to win ten million new payment customers. The startup last published new figures in March.
Spotify continues to expand market leadership
In contrast to the number of paying customers, the number of users who can also listen without a paid subscription has apparently not changed. On the company side it still says that 140 million users are registered. In total, more than 30 million song titles are available on Spotify. The streaming service indicates the number of available playlists at more than two billion. The service is the market leader in more than 60 countries.
The numbers are a good sign for the company. This means that Spotify can continue to keep its biggest competitor Apple at a clear distance. The iPhone manufacturer has only 27 million subscribers to the in-house streaming service Apple Music. The service was launched in 2015 and caused a sensation in the music streaming market. Many experts predict Spotify will have gloomy times due to Apple’s gigantic marketing budget and general market power.
Despite its growth, Spotify is struggling with problems. Although the streaming service generates high sales, the profit is a long time coming. In 2016, the company generated sales of 2.9 billion euros. However, the loss in the same year was more than 539 million euros. So far, the strategy has been based solely on growth. According to media reports, however, the focus will be shifted significantly to profit this year.