Spotify continues to grow at a rapid pace as the music streaming service now home to 6 million paid subscribers worldwide. This number makes Spotify by far the industry leader in the all you can eat music biz. What’s even more impressive, is that the company added 1 million paid subscribers since the month of December. Spotify is now the second fastest growing digital music provider ever, only trailing Pandora.
Here’s another amazing factoid, Spotify now sits at 24 million active users, which is more than double what it had a year ago. These kind of numbers should make any company exec gleam with excitement, however, the company remains humble with a focus of continued growth. Blanketing the entire globe is the goal.
Spotify is making plenty of moves to keep its edge in the music streaming business. For example, the company recently cut a deal with Ford Motors in streaming its service over Ford’s SYNC-equipped cars. Bundling its music streaming service with other internet companies is another way to spread the word.
The company keeps on trucking along despite being in such a brutal business that has constant negotiations in licensing deals with record companies, and unjustified scrutiny from musical artist. Labels are the ones jerking the artists, as they pay out only a fraction of a penny for a song streamed over Spotify.
Unfortunately, this screw job puts the burden solely on Spotify’s shoulders, but if it continues to grow like it has in the past year — more plays and dollars will come for artist. With paying subscriptions growing to a 44 percent clip, it’s safe to say that music streaming is here to stay.
[via cnet]