1 Million Paying Customers: Spotify’s Landmark

Music streaming service Spotify, has a cause for celebration. No they have not been able to expand over to the US yet, but they do look to have 1 million paying and satisfied customers.

The Swedish based comapny has over 6.5 million users; however a number of these opt for the free service which is heavily bombarded with advertisements. Around 15% of these 6.5 million users have chosen to go with the premium service which is advert free and allows you to stream all of your favourite tunes from your mobile phone. Spotify does generate revenue from the advertising but the premium service rakes in significantly more at $9.99 a month.

The streaming service delivers music to the UK, France, Spain, Finland, Norway, Holland and of course Sweden, as reported by Financial News. We have spoken about Spotify’s burning desire to expand out to the US, and they took a step closer to doing this recently by penning a deal with fellow music comapany EMI.

According to BBC News, Spotify is also set to get a boost by having $100 million invested in to it, which would in turn take the company value up to around $1 billion. Now that the service is in the 1 million member club it can focus on the 10 million mark, with its growth and new offerings. Let us know what you think of Spotify’s services and if you are a premium member.