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Spotify Subscribers Hit The Million Mark

spotifyAs Spotify, an online music streaming site, prepares to launch in the United States, the organisation revealed that subscribers across Europe have surpassed the 1 million mark. This is a remarkable achievement considering the fact that the Website has a total of around 6.67 million users, the majority of whom use its free service  which are subsidised by advertisements. According to an official statement the company said “its with a sense of real pride and excitement that we can announce a new milestone today, having welcomed our millionth paying subscriber to the service.”

The news is even more remarkable considering that there were quite a few doubters out there when Spotify decided to improve its profitability by offering users the opportunity to switch to premium advert-free computer- and smartphone- based services. Only last year, Spotify’s subscriber base was estimated to be around 8% of its total user base (this figure has now risen to around 15%). Whilst the company’s American launch has been delayed due to concerns at the big music labels concerning the potential success of its business model, which pays out royalties each time a song is played through its Website, its pre-launch fund-raising process appears to be coming to an end now. For an organisation estimated by analysts to be worth around 1 billion dollars, its future, particularly with an optional upgraded subscriber service, seems bright.

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4 Comments

4 Comments

  1. Larry Blair

    March 9, 2011 at 11:53 pm

    Wow, congrats to spotify for hitting the 1m mark! I remember watching The Social Network and how big of a deal that was for Facebook

    • Admin

      March 27, 2011 at 5:16 pm

      Tell me about it. Even our first 100 hits was a big deal for us.

  2. raymund

    March 10, 2011 at 4:33 am

    Congratulations to Spotify even though I am not a subscriber.

  3. Computer Smartphone Technology

    March 18, 2011 at 8:13 pm

    This is my first time of hearing about Spotify, although, I am not a music lover.

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