INTERNATIONAL - Music and video streaming service Spotify announced on Twitter that it has 70 million subscribers.
Before the announcement, the company's subscriber count was around 60 million since July 2017.
Hello 70 million subscribers 👏— Spotify (@Spotify) January 4, 2018
The deals also give labels the option to keep new albums off of the streaming service’s free tier for a period of time. Spotify is expected to go public soon, as the company confidentially filed for an IPO. The company will try direct listing, which essentially lets private stakeholders start trading their shares on a public exchange.
This latest figure puts Spotify ahead of competitors such as Apple Music, who last announced in September that it had more than 30 million subscribers. However, Tidal is yet to reveal its subscriber numbers.
- BUSINESS REPORT ONLINE