March 2 Spotify said on Thursday it has reached
50 million paid subscribers, growing 25 percent in less than six
months and extending the Swedish music streaming service's lead
over its closest rival, Apple Music.
Spotify, which has not yet shown a profit as it spends to
grow internationally, is considering a potential U.S. stock
market listing, according to a February TechCrunch report.
The Stockholm based company announced a major expansion in
New York in February.
Spotify, one of Europe's most highly valued venture-backed
startups, will move its New York office to the World Trade
Center from the Midtown area of Manhattan, adding more than
1,000 new jobs.
Launched in 2008, Spotify had 40 million paid subscribers in
Apple, which launched its music service less than
two years ago, had about 20 million subscribers in December.
In 2016, Americans used on demand streaming platforms, such
as Spotify, to listen to 431 billion songs, Nielsen said in its
U.S. year-end report.
(Reporting by Ismail Shakil in Bengaluru; Editing by Sandra