Spotify has accompished another impressive feat, announcing today that they have reached 50 million paid subscribers.
The world's largest music subscription service acknowledged the milestone in a tweet thanking each and every one of them.
— Spotify (@Spotify) March 2, 2017
The most recent achievement comes just five and a half months after Spotify hit 40 million subscribers, and in March of last year, the company was just reaching 30 million.
This means spotify has gained nearly 20 million paid users over the last year alone. In comparison, as far as the streaming war goes, Apple music recently stated that they're “well past” the 20 million mark.
The numbers come on the heels of music streaming's best year in 2016, where 51.3 percent of album consumption units came through these subscription services, as opposed to physical copies or downloads according to Billboard.
For the first time since the turn of the century, the U.S. music industry experienced back-to-back years of growth in 2015 and 2016 thanks to streaming services like Spotify, Apple Music and others.
Streaming services are continuing to gain subscribers at an steady rate, which is encouraging for the industry as a whole.
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