Spotify Is Growing Faster Than Apple Music
Spotify founder and CEO Daniel Ek sent out a tweet earlier stating, “40 is the new 30. Million.” This indicates that Spotify has reached 40 million paying subscribers, up 10 million after hitting 30 million paid subscribers this past March, marking a 33 percent growth in just under six months. This also means that Spotify is growing more rapidly than its top rival, Apple Music. Only last week, Apple Music announced that it has amassed 17 million paid subscribers, trailing Spotify’s numbers by far. Apple was at 15 million back in June, and 11 million in February — and while this growth is impressive, it doesn’t beat out Spotify’s rate. The OG streaming company’s rapid growth could mean that exclusives are futile. TIDAL and Apple Music both employ exclusives from Drake, Frank Ocean, Kanye, Beyoncé and more, but Spotify doesn’t and this might mean that having content in only one place isn’t an effective audience builder.