Spotify Hits 2.5 Million Paying Subscribers
Spotify has hit 2.5 million paying subscribers. The company was at 1 million paying subscribers as of this past March, which is a substantial increase in only 8 months. Launching in the United States within those 8 months was a major reason for the increase in subscribers.
Spotify currently has two paid plans. The “unlimited” option costs $4.99 per month. This includes the ability to listen to Spotify without ads. The “premium” option is $9.99 per month and it provides the ability to listen to Spotify on mobile devices and there is an offline mode for listening to tracks.
Another reason why Spotify quickly grew is because of their deep integration in Facebook. This past September, Facebook announced that users could stream music from within the social network itself. About 500,000 paying subscribers has joined since September.
The bad news for Spotify is that earlier this month, about 200 indie music labels pulled their tracks from Spotify. Coldplay and Tom Waits would not be able to add their latest albums on Spotify either.
[CNET]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry