Spotify just reached a new milestone. The company announced on Twitter that it now has 70 million subscribers. Previously, in July 2017, we knew that the company had more than 60 million but the company has now reached 70 million count.
Spotify hasn’t announced any new details on its total number of active users, but in June it claimed to be around 140 million.
In the last several months, Spotify renegotiated licensing deals with Warner Music Group, Universal Music Group, and Sony Music. This gave Spotify a bit break on royalty payouts. These new terms also gave labels the option to keep any new albums off the streaming service’s free tier for a period of time.
The company is also heavily interested in going public. The company recently confidentially filed for an IPO. As it pursues to go public, having a solid ground for the company is very crucial.