Spotify reaches 10 million paid subscriptions worldwide

It's facing ever-increasing competition in the online music streaming market, but Spotify is showing no signs of slowing down after registering its 10-millionth paid-for subscription.

The service has also passed the 40-million active users mark, with Spotify now operating in 56 markets around the world (it was 20 countries only 12 months ago).

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According to Spotify, its most streamed artists include Eminem, Rihanna, David Guetta and Katy Perry, while more than $1bn has now been directed to music rights holders.

Spotify CEO and founder Daniel Ek said: "We’re widening our lead in the digital music space and will continue to focus on getting everyone in the world to listen to more music."

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Last month, Spotify – the company that arguably kicked off the music streaming revolution – said it was overhauling its interface and introducing new features in response to competition.

It has also set its sights on the living room and hi-fi hardware market with the launch of its Spotify Connect service, which launched in late 2013 with 10 partners such as B&O and Yamaha.

MORE: Spotify Connect takes aim at AirPlay and Sonos

by Pete Hayman

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Pete was content editor on What Hi-Fi?, overseeing production and publication of digital content. In creating and curating feature articles for web and print consumption, he provided digital and editorial expertise and support to help reposition What Hi-Fi? as a ‘digital-first’ title; reflecting the contemporary media trends. He is now a senior content strategist.