Spotify exceeds 60 million subscribers

Spotify exceeds 60 million subscribers

The platform is in negotiations with the third and last great actor in the music industry, Warner Music

  Spotify exceeded 60 million subscribers, reinforcing its leading position in the market, according to figures published on Monday on the website of this streaming music platform.

The Swedish music on demand service maintains a sustained growth rate, with a net gain of 10 million paying subscribers in five months and 20 million in just 11 months.

  Spotify says, in total, with 140 million active users between those who pay and those who do not.

Spotify's main competitor, Apple Music, also moves quickly, but since it started later, in June 2015, it is still way behind the Swedish giant.

In early June, Apple president and CEO Tim Cook announced that its online music service had 27 million subscribers, versus 20 million in early December.

The streaming music market by subscription is now summarized, in essence, to a duel, while the other participants are far from the two main ones.

According to a study published by the specialized firm MIDiA, the French Deezer was located, at the end of 2016, in third place, with 6.9 million subscribers.

Spotify closed an agreement in early July with the Sony Music label, according to several US media, shortly after reaching an agreement with another heavyweight industry, Universal Music, in April.

The platform is in negotiations with the third and last great actor in the music industry, Warner Music, according to several media outlets.

An agreement between them would eliminate the last major obstacle to the entry of Spotify into the Exchange.

Prioritizing a policy of growing its turnover and its subscriber base, Spotify saw revenues increase 53% in 2016 to 2,900 million euros, but recorded a net loss of 539 million euros, according to figures published in June by the Luxembourg holding Spotify Technologies.

Since its creation in 2006, the group has never managed to generate any net benefit, since most of its turnover ends up in the hands of the owners of the rights, such as artists, producers and record companies.