Tuesday, June 21, 2016
Spotify User Base Reaches 100 Million
Via The Swedish Wire: Music streaming service Spotify says its active monthly user base had grown to 100 million, with some 30 million paying listeners. Founded in 2006, it’s now the world’s leading music streaming service, with almost three times more listeners than its closest rival, Apple Music. In fact, Spotify has more users than the five largest competitors combined. Reuters said that the Swedish firm pays more than 80 percent of its revenue to record labels and artists and has not yet shown a profit as it spends to grow internationally. Last year, it made an operating loss of 184.5 million euros ($209 million), widening from 165.1 million in 2014.