Spotify has 70 million paid subscribers

On Thursday, Spotify unleashed an interesting piece of information on Twitter, revealing its current number of paid subscribers: 70 million and counting. According to Wikipedia, Spotify has a total number of subscribers that exceeds 140 million, so a 1/2 ratio for paid accounts is definitely a good achievement.

However, even more impressive than the number of users is Spotify's rate of growth - a whopping 50 percent since September 2016. Sadly, Spotify still has to reach a few key markets, as revealed by some of the replies to the "Hello 70 million subscribers" message that the company posted on Twitter. Russia and India are two such markets that would easily bring in a lot of users, but even the existing Spotify subscribers have some requests, such as the introduction of a lyrics display feature similar to that already included by Apple Music's app.

According to multiple sources who spoke to Axios, Spotify filed IPO documents at the end of 2017 confidentially. Those familiar with the matter claim that Spotify wants to list in Q1, but the company declined to comment anything on the matter so far.

Apple Music is one of Spotify's many competitors, and its current user base is around 30 million. However, Apple Music has been around since 2015, while Spotify was founded more than 11 years ago. Back in August 2017, Spotify was the most downloaded music app on the iOS platform in the United States. By the looks of it, the match between these two music streaming services will be an interesting one to watch in the years to come.