NEW YORK (Hypebot) — This morning Spotify announced that it had reached 2.5 million paying subscribers.
The company offered no breakdown of where those subscribers reside. But at average of between $5 and $10 USD, that's a $18 – $20 million in revenue from subscriptions plus advertising income.
The full text of the Spotify announcement:
Spotify reaches 2.5 million paying subscribers
This week is Thanksgiving in the US. And we’ve got our own reasons to give thanks too.
Fanfare! Drum roll! Yes, we’re excited to announce that we’ve now welcomed 2.5 million paying subscribers to the service.
So we’d like to say a big thank you to all our subscribers, new and old. Keep spreading the good news about Spotify!
Of course, we’ll continue to focus on providing you with the best music service possible. We’ve got some exciting developments in the works, which we’ll share with you very soon.
Thanks for listening!