There’s no doubt that Spotify’s music streaming service had a great 2011, however it wasn’t too long ago when Spotify was losing money and experts began doubting its future – well today we have some interesting figures to show you.
It has been revealed that Spotify has now now reached 3 million paying subscribers, this has jumped massively since March 2011 when it hit the 1 million milestone and should help out massively in the long run. When you think each paying customer pays $4.99 per month for Unlimited (no ads and unlimited streaming) or $9.99 per month for Spotify Premium (no ads, unlimited streaming, offline mode and mobile capabilities) it’s fair to presume that the future is looking bright, not to mention the revenue brought in through advertising.
Spotify’s 3 million paying customers are said to represent 20% of Spotify’s active user base, there are many things which have helped out, but many believe the Facebook integration and free premium trials have helped out massively. Personally the 10 hour cap for Spotify free was what convinced me subscribe to Unlimited, now that this cap has been lifted I still pay $4.99 per month as I’m used to an ad-free service and think that it’s a small price to pay considering the amount of hours I use the service for a month.
Below we have added a statement from Ken Parks, Spotify’s US managing director:
“We have an enormous internal effort to drive conversion and engagement with the service. We are very focused on growing in our existing 12 markets as well as expanding in other markets.”
As you can see it looks like there’s new plans on the horizon, so what would you like to see in 2012 from Spotify? Why not release a Spotify-branded car stereo? Bring Spotify to consoles via apps? Add better social features to Spotfy to more seamlessly connect with Facebook, Twitter, MySpace and Google Plus – feel free to share your ideas.
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