Spotify has announced it has reached more than 20 million subscribers and more than 75 million active users, marking huge increases for the music streaming platform over the past year. It took Spotify five and a half years to reach its first 10 million subscribers, so to put its recent growth into perspective, 10 million new subscribers in a single year is an average of one new subscriber every three seconds.
Artist royalties have also reached a new milestone, with Spotify paying out more than $3 billion in royalties to date, with more than $300 million in royalties paid in the first three months of 2015.
For artists, subscriber growth means more earnings potential. Spotify projects the average payout per artist to greatly increase when comparing the 10 million subscriber level to the company’s new base of 20 million subscribers.
Spotify attributes its success to its combination of paid and free offerings, with 80 percent of premium subscribers beginning as free users.
Spotify recently announced an expansion to its platform, which introduces support for podcasts, videos clips and more. In addition, Spotify Running has been introduced to help athletes get the most out of their workouts by selecting the right music to play based on a runner’s pace, as determined by the sensors in his or her phone.