Printed from http://www.electronista.com

Spotify reaches 1 million paying subscribers

updated 08:15 pm EST, Tue March 8, 2011

Milestone represents 15% of subscriber base

Following several reports suggesting music streaming service Spotify is nearing a US launch, the company has announced that it has surpassed a million paying subscribers. The number alone is significant, but when compared to the total number of active users, which has reached seven million, the achievement means that 15 percent of the subscriber base is now paying for access to the company's range of music content.

Sources recently claimed the European company was ready to finalize an agreement with Universal, a move which is considered to be one of the most significant steps toward an effective US debut. Separate agreements are said to have been established with labels EMI and Sony, though the involved companies have yet to publicly confirm such talks.

Although Spotify has expressed strong desire to enter the US market, its ability to sign deals for content was believed to have been hindered by labels' fears that users would be unwilling to pay for the service. Record companies' fears may also be assuaged by the growth statistics, which suggest the number of paid subscribers is currently growing at twice the rate of free users.

Despite the number of reports pointing to an imminent US launch, Spotify has yet to commit to a specific time-frame. [via Wall Street Journal]



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Blue's Mikey Digital

Blue Microphones, a company that makes some of the most popular digital USB microphones among podcasters and musicians, has for some t ...

Sponsor

toggle

Most Commented

 
toggle

Popular News