Rise of Paid Subscribers | Spotify Reaches 60 Million Mark

Spotify adds 10 million paying subscribers in less than five months, a company spokesperson confirmed. According to a Financial Times report, the total number of paying subscribers has gone up 25 percent to 60 million with this new addition. As of now, Spotify has over 140 million monthly active users.

Spotify continues to stay ahead of the competition, beating its arch-rivals, including Apple Music. Even though the numbers are surging, the spokesperson confirmed that the company was not going public.

However, several weeks ago, Reuters reported that Spotify almost signed a deal with Warner Music Inc. agreeing to a new licensing pact, hinting that the former was going public.

Spotify is a Swedish audio streaming and media services provider. It was founded in 2006 and is headquartered in Stockholm, Sweden.