Spotify now has ONE MILLION paying subscribers as it sets its sights on the US

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It’s only been nearly two years since Spotify launched, but if anything proves its success, then this is it. In Europe, the company have earned their one millionth paying subscriber. With the cheapest subscription being £4.99 a month, that’s at least £5 million for Spotify every month, even more impressive considering the user base is 6.67 million, meaning the profit only constitutes for just less than a 7th of their audience. A lot of money indeed.

The last we heard about plans for the service to launch in the US, it was being delayed because of the big music labels more or less being arseholes about its business model. However, $100m is currently being raised towards a US launch and if its success in Europe is any indication, then the business model of a free service at a basic level with subscriptions for those who want to use the service without ads, offline or on their mobiles is working. And it deserves all of that success. Put simply, I love Spotify. The service of what is essentially a giant virtual music library for free is brilliant and if the occasional advert means I can keep using it for that price then I’m happy with that. Add in the fact that you can now play local files in Spotify and it has pretty much become my go to music player. The only features it is missing now is an equalizer function and MP3 player support. All I know is that my musical tastes would never have become nearly as expanded if it weren’t for Spotify. And for someone who can’t afford to buy music all the time but refuses to pirate it, it’s a godsend.

Source: BBC

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