Spotify Reaches 50 Million Subscribers
Spotify, which has not yet shown a profit as it spends to grow internationally, is considering a potential U.S. stock market listing.
Spotify reaches 50 million subscribers. (Image: Reuters)
Spotify said on Thursday it has reached 50 million paid subscribers, growing 25 percent in less than six months and extending the Swedish music streaming service's lead over its closest rival, Apple Music.
Spotify, which has not yet shown a profit as it spends to grow internationally, is considering a potential U.S. stock market listing, according to a February TechCrunch report.
The Stockholm-based company announced a major expansion in New York in February.
Spotify, one of Europe's most highly valued venture-backed startups, will move its New York office to the World Trade Centre from the Midtown area of Manhattan, adding more than 1,000 new jobs.
Launched in 2008, Spotify had 40 million paid subscribers in September.
In 2016, Americans used on-demand streaming platforms, such as Spotify, to listen to 431 billion songs, Nielsen said in its U.S. year-end report.
Catch the biggest newsmakers and the biggest newsbreaks on CNN-News18, the only news destination. Keep watching CNN-News18 at just 50 paise per month. Contact your cable/DTH operator now!
*Rental/capacity fee of Rs. 130/- as charged by cable/DTH operator may apply. **GST extra.
Recommended For You
- Kartik Aaryan Says He is Ready For a Coffee Date with Sara Ali Khan, Asks Time and Place
- Ryan 'Deadpool' Reynolds' #10YearChallenge For Hugh Jackman as Wolverine Will Break Your Heart
- Super Over Thriller, Stunning Last Ball Catch Decide WBBL Finalists
- Need to Focus on Alternative Fuels: Union Minister Nitin Gadkari
- Marvel Takes #10YearChallenge, Shares Pictures of Avengers Endgame Characters
- 01 d
- 12 h
- 38 m
- 09 s