Just recently, Spotify became the first music-streaming service to hit an amazing milestone, 100 million active users! This was confirmed to The Telegraph the other day and is quite astonishing when you think about it. The investment bank GP Bullhound values Spotify at $8.5 billion and with numbers like it has, we’re not surprised.
Spotify is crushing the newer Apple Music, but we’ll see how long that lasts. Spotify has 30 million paid subscribers compared to Apple Music’s 15 million paying members. Based off of previous reports, Apple Music seems to be growing at about one million subscribers per month. Even with this all said, a Spotify VP has said that Apple Music is good for the streaming service business.