Spotify Hits 70 Million Paid Subscribers

There is something for Spotify to cheer about even in the face of the massive lawsuit filed against it as the music streaming company announced it has hit 70million paid subscribers.

The Music Streaming Service’s paid subscribers base over the course of the last six months has grown by 10 million customers, up from 60 million in late July. When adding in customers who listen to the free ad-supported Spotify tier, the service has more than 140 million subscribers worldwide.

It is worth knowing that only recently the streaming service renegotiated licensing deals with Sony Music, Universal Music Group, and Warner Music Group, which will give Spotify a break on royalty payouts. The deals also give labels the option to keep new albums off of the streaming service’s free tier for a period of time. Also, the company has filed paperwork to list its shares on the New York Stock Exchange in an indication that it is pressing on with a unique plan to go public.

In September of 2016, Apple Music had 17 million subscribers, so growth has nearly doubled over the course of the past year, but that hasn’t stopped Spotify from continuing to grow at a rapid pace as well.

Apple Music subscriptions start at $9.99 per month following a free trial (with lower prices available for students), while Spotify continues to offer both a free tier and an upgraded on-demand listening tier also priced at $9.99 per month.

It is believed that the new development solidifies Spotify’s place ahead of its competitors at least in size. Apple Music last announced in September that it had more than 30 million subscribers, while Tidal hasn’t released its subscriber numbers.