Spotify Growing Faster Since Apple Music Launch
Apple Music launched in June 2015 and has already reached 13 million paid users. For a service that just started a little under a year ago, that is quite an achievement. Considering also that Spotify launched in 2008 and took until 2014 to achieve 10 million paying subscribers. June 2015 saw the service having about 20 million paid users which was double what they had a year before that. Ever since Apple Music launhed though there are increase awareness towards music streaming services and therefore Spotify got into the limelight indirectly. What that did for spotify was add another 10 million paying subscribers over the year to a total of 30 million paid subscribers as of today.
Weirdly though Spotify is still operating at a loss due to paying high royalties to music label right holders. On top of that they would have to share their total revenue with their label partners as well. The executives of the Swede music streaming service though are positive that revenue will grow and profits achieved through increased user and subscriber base. Alongside that Spotify has announced that there will be 12 new orginal series available to the service in the coming months. This series will focus on music performances, profiles, and culture. All this to add subscribers.