Spotify announced today that it has 170 million active users, 75 million of which are paying for its premium subscription service. The remaining 95 million users subscribe to the ad-supported version of the service.
“Every year we grow as a company, which allows us to make unprecedented changes to our platform, and in turn, engage more users in the magic of music streaming,” a Spotify announcement notes. “We’re excited to announce that this year is no different.”
The new milestone came as part of the firm’s quarterly earnings announcement, and the subscriber base was in line with expectations. Spotify reported revenues of $1.37 billion for the most recent quarter and narrowed its losses. The firm expects to lose about $397 million this year as it steps up its expansion and competitive efforts against Apple.
Speaking of which, Apple has 40 million paying Apple Music subscribers, up from 27 million a year earlier. Spotify had 50 million paid subscribers a year ago, so it is growing much faster than Apple.
According to Variety, Spotify plans to have 100 million paid subscribers by the end of 2018 and 200 million active users.