Spotify has confirmed it has passed a major landmark, with 100 million users around the globe now streaming tunes.
The Telegraph points out the company is adding subscribers at a rate of 1.8 million a month, since it’s up from 75m this time last year.
However, although the news may seem like cause for celebration, the firm appears still appears to be struggling when it comes to converting subscribers to paid subscriptions.
Of the 100 million users, only 30 million are paying for the service through Premium subscriptions.
Related: Best streaming service: Spotify vs Apple Music and the rest
Spotify has welcomed Apple’s entry into the market, claiming it has raised awareness of streaming and helped Spotify’s growth.
In that respect it’s not too much of a leap to suggest there are plenty of people learning about streaming through Apple Music, only to discover they can receive a similar service without spending any money.
Spotify lost 173m Euros last year, a ten percent increase in losses.
The ability to convert users from freeloaders to paying subscribers is central to its plan to begin operating in the black.
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Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.
Professional conduct
We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.
