Spotify has now extended a faster growth in Music Streaming Service, although its rival company Apple launched it Stream Music in last June.
The company’s vice president Jonathan Forster says it has reached nearly 100 Million Subscribers on streaming Music. Spotify VP also said Reuters that the corporation has 30 Million ‘Premium’ users.
The Swedish company which found ten years ago is now getting close to 100 million users in 59 markets even with the increasing competition.
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“It’s great that Apple is in the game. Just in case, we are raising the profile of Music Streaming. It is hard to build an industry on your own,” Jonathan Forster, a vice president and one of its first employees, told Reuters in an interview.
“Since Apple Music started we’ve been growing quicker and adding more users than before.”
“It would be terrible if we were just taking each other’s users or to learn there was just a ceiling of 100 million users - I don’t think that is the case,” said Forster, who had just returned to Stockholm from the Coachella Valley Music and Arts Festival in California.
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Although Spotify has 30 million paying subscribers in just 59 markets making a mark in music streaming, whereas Apple Music has only 13 million paying subscribers over 100 countries.
And also, the Spotify faces competition from newer rivals apart from Apple, such as Pandora, SoundCloud, Jay Z’s Tidal in meanwhile Google’s YouTube and Play Music. Spotify VP also mentioned multiple streaming services wasn’t sustain in long run.
When Reuters ask on acquisition possibilities, Foster clearly said future purchase on similar scale depends on the recent deals whether to bring on new teams and Technology.
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“I wouldn’t be surprised to see Spotify continue to invest in areas that are relevant or adjacent to our business,” he said. Revenues will automatically come from subscription, but Spotify also hunts on concerts, merchandising and video, but we are not trying to be a Netflix.
Spotify launched on Monday a new video expressing the inclusion of video artist (behind the scenes).
When asked about acquisition target, VP told Spotify will always prefer to be “Spotify,” we are happy with what we are doing now. We have seen people are waked up on the opportunity on streaming which we believe this is just the beginning.
https://www.youtube.com/watch?v=jXCu4vRLQYg
