Spotify Hits 10 Million Subscribers

Spotify has reached the 10 million subscriber mark, an important milestone as it competes in the increasingly crowded streaming music market.

The new number, which Spotify announced in a blog post, is up from 6 million subscribers in March 2013.

In addition to the paid subscriptions, Spotify also announced 40 million active users, an important base for a company that relies on using free music to eventually convert listeners into subscribers. That number is up from 24 million, which was also announced in March 2013.

"We've had an amazing year, growing from 20 markets to 56 as people from around the world embrace streaming music. 10 million subscribers is an important milestone for both Spotify and the entire music industry," said Daniel Ek, Spotify CEO and founder, in a press release. "We’re widening our lead in the digital music space and will continue to focus on getting everyone in the world to listen to more music." Read more...