Spotify has announced that it now has 50m paying subscribers around the world. The announcement was made overnight and follows the June 2016 news of Spotify boasting 100m monthly active users. In comparison, Apple Music had 20m paying subscribers as of December 2016.
Having first launched in 2008, the Swedish streaming company has added 20m paying subscribers since September last year. This marks a 25% growth in six months. The Stockholm-based start-up will move its New York office to the World Trade Center later this year, adding more than 1,000 new jobs. It is reported that this move arrives as it prepares to float itself on the stock market.