Spotify, the latest paid music streaming service, claims to have reached 15 million paying subscribers and over 60 million users in total.
The company disclosed that it had 12.5 million paying users out of the 50 million subscribers some two months ago. Figures show that Spotify has been steady on 25% paying users and had not increased or decreased as to date.
Spotify is available for online users on its free and paid services. The streaming music service is available in 58 countries and is being used by 60 million people worldwide.
This shows that in every paying subscriber at about $10 per month, three free users are using the unpaid version of it.
In a short span of three years, Spotify has tripled its subscribers' growth to which record companies and music distributors admit that this is their top revenue sources in the present day.
The company claimed that they have paid about $2 billion in music royalties since its inception in 2008.
Its services are more preferred today as more and more people are shifting from buying CDs and downloading music to simply streaming music online, which is often used for free.
In 2014, Taylor Swift took off her entire music catalogue from Spotify since the company refuse to limit her songs to paying users only.
Spotify admitted that they gained their growth through their "freemium" service, wherein free music was used to pull more listeners to pay and get more access.
In the last quarter of 2013, Spotify started to let users listen to free music on smartphones. At present, mobile users are their big fraction of listeners.
