Spotify has passed the 100 million monthly active user milestone. The announcement was confirmed today in Cannes at the advertising industries Cannes Lions Conference where Daniel Ekwas speaking.
The announcement, and the chosen arena for it’s dissemination, also coincide with the recent hiring by Spotify of Paul Vogel, its first head of investor relations, indicating that increasing advertising revenues would be a priority for the streaming service in the event of an IPO.
Based on its last count, the streaming company is adding 1.8m users to the service monthly, and 30% of users are paying subscribers, accounting for a revenue increase of 80% to £1.5bn last year.
The news comes as Spotify overtakes Skype as the most highly valued European startup, worth roughly $8.5bn, according to tech investment bank GP Bullhound.
Although this is all very interesting, following recent coverage of footballing activities in France, an analogy could be drawn that if goals were sales and passes were streams, England won their game with Slovakia earlier this week with 58% ball possession, though Adele will be playing in goal for Wales at Glastonbury!
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