Spotify passes 70 million paid subscribers

Spotify’s lead at the head of the streaming market won’t be caught any time soon, with the Swedish company confirming that it has now passed 70 million subscribers to its paid service.

It’s nearest competitor is Apple Music, who in September last year announced it had 30 million subscribers, while MBW understands it is adding close to a million subscribers per month.

Despite such strong growth, the gap between Apple Music and Spotify is only getting bigger.

Spotify announced it had 50 million paid subscribers in March 2017, meaning that the platform has managed to gain two million subscribers per month on average over the past 10 months.

The company is currently in the middle of fighting AUD $2 billion lawsuit levelled by Wixen Music Publishing who allege the service has used thousands of songs by the likes of Tom Petty, Neil Young, The Doors and more without a license or compensation to the publisher.

Spotify also recently filed initial IPO documents, and Forbes suggests that the class action is unlikely to disrupt the process.