STOCKHOLM, Sweden (CelebrityAccess) — As Apple debuts its effort to break into the streaming music market, Spotify, the dominant player in streaming industry announced that they have hit a milestone with 20 million subscribers 75 million active users.
In a blog post, the company reported that they have added 10 million subscribers in a year and that their paying users are up by 33% since the end of 2014.
Spotify said that the growing number of subscribers will lead to larger payouts for artists as a function of the company's revenue sharing program. According to the company, a "global superstar" who received $7.7 million over the 12 months starting in June 2014, would now be on track to receive $13.9 million in payouts over the next 12 months, given the new subscriber baseline.
"We have now paid more than $3 billion USD in royalties, including more than $300 million in the first three months of 2015 alone. That’s good for music, good for music fans … and good for music makers," Spotify said. – Staff Writers