Spotify Outgrows Apple Music Once More
Spotify shares will go onto the market on the back of news that it has boosted subscriber numbers to 60 million, outgrowing Apple Music once more. That's a ten million user increase in just five months.
Perhaps more impressive given the success Spotify is having in converting users is that the overall number of users, which includes users of the free service, has now grown to 140 million.
The music industry has fought against Spotify for years - some harder and more viciously than others - but it looks more and more like music streaming is the way customers want to consumer music and Spotify is the service they choose to do so.
What isn't obvious is how many users there are of streaming services when you add together all of the various offerings. We know what business Apple Music, Spotify and Tidal are doing; however there are other services out there where we have less clarity about user numbers. Google, Microsoft, Soundcloud, Pandora... each of those adds further weight to the view that streaming is not the future, but the present.
For now Spotify's continued impressive growth leads the on-demand streaming market with no sign of any other competitor making a serious challenge for leadership.