When it comes to listening to music nowadays, everyone prefers to listen to it online. There are many platforms which let you listen to your favorite songs, and one of them is Spotify. Online music streaming company Spotify is famous for providing various types of online songs to its customers. However, a recent report shows that Spotify has crossed the limit of 108 million paid subscribers. The music streaming app Spotify works on a subscription basis where a user can listen to songs without any ads by getting a subscription plan.
Apple Music, on the other hand, has reached only 60 million paid subscribers, which ultimately shows the growing popularity of Spotify among music lovers. Apple Music is trying to get ahead of other music streaming apps, but Spotify is ruling this industry with its vast amount of content. Recently Spotify acquired a podcast making tech company which can be used by Spotify for its podcast users. Spotify is also used by free users, which constitute a significant part of the company’s user base.
There are currently more than 232 million monthly users of Spotify, which also includes free users too. Apple Music, on the other hand, is relatively smaller to Spotify because it has approximately 60 million paid users. Apple is trying to put lots of money into various sectors, and Apple Music is one of them. The tech giant has decided to collaborate with indie music producers for creating content on Apple music. The music industry is rapidly changing, and that’s why big companies are now taking significant steps to improve it. In April Spotify had upto 100 million paid subscribers and now that user base is increased by 8 million. Spotify, in its fourth-quarter, said that they are expecting to cross 125 million subscribers benchmark by the end of next quarter.