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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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