Last year, it was reported that Spotify had acquired 40 million paid subscribers. It is now being reported that the music streaming platform has extended its lead as the world’s largest paid music streaming platform over its rivals like Apple Music and Soundcloud by hitting the 50 million mark. At the moment, Apple Music boasts 20 million users and clearly still has a distance to go before taking on the current leader in the space.
Spotify also announced earlier this week that the company will be offering “lossless-quality music” which was what TIDAL had used to differentiate itself from other major streaming services.
The announcement should serve as a hint to musicians who are looking to spread their music around the world for which platforms they should be leveraging.
Thank you to our 50 million subscribers. #Spotify50 pic.twitter.com/eXkOV71bwu
— Spotify (@Spotify) March 2, 2017