Spotify Premium hits 3 million subscribers mark

Digital Music, Spotify, Tech Digest news

spotify-top.jpgSpotify have reached the 3 million Premium subscriber mark. 20% of their 15 million users are now opting to pay for the ad-free, unlimited service, showing that the streaming giant are well on their way to hitting the conversion figures they aimed for.

The figures are up from 2.5m in November and 2m in September, showing the fast rate of growth is remaining consistent.

“We have an enormous internal effort to drive conversion and engagement with the service”, Ken Parks, chief content officer at Spotify.

Parks also defended the free ad-supported model which some artists and labels have criticised, stating its allowed them the breathing room to build up customer loyalty, a loyalty that will soon pay dividends for the artists featured on the service.

“This is a healthy model. As it scales it gets better for everybody.We are very focused on growing in our existing 12 markets as well as expanding in other markets.”

The fact that half of Spotify’s paid-for users are under 30 is a superb achievement in itself, considering they are a traditionally difficult demographic to corner.

2011 was a busy year for Spotify; not only did they launch their internal app platform, but also announced a high-profile partnership with Facebook, a deal which undoubtedly helped drive subscriber numbers.

Via: FT

Gerald Lynch
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