File Image: A logo of online music streaming service Spotify.

INTERNATIONAL - Music and video streaming service Spotify announced on Twitter that it has 70 million subscribers.

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 Before the announcement, the company's subscriber count was around 60 million since July 2017.  

 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.

Read more: Spotify to go public on the New York Stock 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.