On Thursday, Spotify mentioned that it has reached the 50million benchmark for its paid subscribers; Spotify has shown the growth of 25 % in less than 6 months. That is some incredible performance in music category. The Swedish, music streaming service now becomes closer to its strong rival, Apple Music.
TechCrunch reported in last month that the company is planning to be listed in US stock market for its global expansion. Spotify has not yet shown profits due to this reason.
Sweden based company has already announced its expansion in New York in February. Spotify is one of the highly valued venture backed startup company in Europe. The company is also planning to move their office from Manhattan to World Trade Center and more than a “grand” new jobs. Stockholm based company was launched in 2008, it reached to 40million paid users in September last year. During 2016 in America people used on demand streaming platforms like; Spotiy to listen to 431 billion songs.
Via: reuters
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