STOCKHOLM May 21 Online music streaming service
Spotify said on Wednesday its global paid subscriber base had
swelled to 10 million as speculation mounts the Swedish start-up
could be gunning for a share listing.
Spotify, which has since 2008 paid out over $1 billion
dollars to rights holders, has benefited from soaring demand for
"We've had an amazing year, growing from 20 markets to 56 as
people from around the world embrace streaming music. 10 million
subscribers is an important milestone for both Spotify and the
entire music industry," said Daniel Ek, CEO and founder.
"We're widening our lead in the digital music space and will
continue to focus on getting everyone in the world to listen to
It saw its paid subscriber base jump from a previous 6
million, as reported on its website, thanks to strong demand for
songs from the likes of Eminem - the music service's
most-streamed artist of all time - and Rihanna, its
most-streamed female artist.
Avicii's hit song "Wake Me Up" is its most streamed song of
Strong investor sentiment and buoyant tech shares have
fuelled speculation by bankers and industry players about a
possible listing of the firm which raised $250 million in a
funding round in November, making it one of the world's most
richly capitalised start-ups.
It now has more than 40 million active users in 56 markets,
up from a previous 24 million.
(Reporting by Mia Shanley; editing by Niklas Pollard)