Spotify has reached a massive 10 million subscribers to its premium music streaming service.
From March 2013, the on demand music service has seen an increase of 26 million active users bringing the total active users to 40 million across the world. So this means that the overall amount of consumers for Spotify has increased by 66%.
“We’ve had an amazing year, growing from 20 markets to 56 as people from around the world embrace streaming music. 10 million subscribers is an important milestone for both Spotify and the entire music industry,” said Daniel Ek, CEO and founder.
He continues – “We’re widening our lead in the digital music space and will continue to focus on getting everyone in the world to listen to more music.“
A yearly subscription to Spotify is around $120 which with the numbers above mean that in revenue each year Spotify are taking $1.2 billion. The monthly revenue is close to taking over iTunes.