Once again damaging the idea that piracy is to blame for the record industry’s decline, Spotify has announced that they have over 1 million paid American users just over a year after getting out of beta.
And with 6 million paid users worldwide, that translates into quite a bit of money. Spotify CEO Daniel Ek notes that they have paid out to rights holders and artists over $500 million already. In the last three months alone, they’ve added one million new subscribers worldwide.
They’ve also got 20 million active users regardless of subscription status.
70% of revenues Spotify has accrued go directly back to the rights holders/artists. In the last nine months alone, the amount of money Spotify’s brought in has doubled.
They’re also set to announce a number of new features to the client, not the least of which is the Discovery Tab:
They’ve also announced that they’ve got Metallica’s catalog in there. So I suppose you can listen to “Enter Sandman” as much as you want these days. Exactly why you would do that to yourself, I don’t know, but I’m not here to judge your terrible music tastes. Yeah, I see you over there with Nickelback in your playlist.
— Spotify (@Spotify) December 6, 2012
Their biggest push right now seems to be customizing the experience and tailoring the client to your music tastes and listening history. These changes are set to be rolled out over the next few weeks.
Question: Are you paying for Spotify? Do you think it’s worth it?