Spotify confirmed it has 50 million paying subscribers. The company announced the milestone in a tweet.
— Spotify (@Spotify) March 2, 2017
The company’s paying subscriber count has boosted throughout the past year. The paying subscribe count went from 30 million subscribers in March, to 40 million in September. Now, it is at 50 million this month. Spotify has increased its paying subscriber count by 10 million in only six short months. It is likely that the paying subscriber count will continue to increase as time goes on.
The numbers are not a complete surprise, as streaming has become one of the most popular ways to listen to music. According to Nielsen Ratings, “on-demand audio streaming has now grown to 38% of total audio consumption (albums + track equivalents + on-demand audio streaming equivalents) to become the largest share of consumption”.