Spotify reaches 3 million paying subscribers
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Spotify has reached a new milestone, hitting 3 million paying subscribers, up from 2 million in September and 2.5 million in November. The conversion ratio of paying subscribers has also increased, with the new figure representing 20 percent of Spotify’s active user base, whereas that ratio was 15 percent last March.
The new numbers are a good sign for Spotify and help to reassure the music industry that this model works. Spotify operates as a freemium service that allows both ad-supported free accounts and paid premium accounts, all with unlimited playback, although it recently implemented monthly caps on the free accounts. »read more
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