Once upon a time, consumers spent up to twenty dollars purchasing the latest CDs, occasionally having only heard a single track. Now, for the price of a little over ten dollars a month, listeners have access to damn near every CD ever made, all at the click of a few buttons. Suffice it to say, the times have changed, largely in part through streaming services like Spotify, Apple Music, and Tidal. Today, the former has once again cemented themselves as a leading name in the new musical landscape, having officially announced a new milestone.
According to The Hollywood Reporter, Spotify has scored one hundred million paid subscribers, a fair percentage of their 217 million active monthly users. The company issued a statement about their recent influx, breaking citing their success as being “driven by a better-than-plan promotion in the U.S. and Canada and continued strong growth in Family Plan.”
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“We also saw strong growth from the expansion of our Google Home Mini promotion, as well as the price reduction to our Spotify Premium+Hulu offering in the U.S,” explains CEO Daniel EK. “Competition is not a big factor of us. It’s really all about growth,” he continues, outlining some of their future ambitions. “The music industry market is way bigger than most people realize. There’s a billion customers in the world that are consuming music. We are all trying to get the music industry into streaming, and that’s a cyclical trend that will keep going for at least another five or ten years.”
How do you feel about the landscape’s current climate? Aside from low artist payouts, Streaming is a big win all around, especially where fan convenience is concerned. Are you paying for a service?