• Spotify Growth in Focus as Apple Music Launch Draws Near

    Although Apple will become an instant force to be reckoned with in the music streaming arena when the service launches within weeks, don't expect instant dominance -- if ever.

    In fact, as more eyes look toward Apple Music, more information seems to surface with regard to just how big this industry's biggest players already are. The focus of the latest growth story is Spotify.

    According to the Wall Street Journal, Spotify just wrapped up a "massive new round of funding" that included a long list of prominent global investors who obviously aren't too concerned with the challenge from Apple. And they are just pouring cash into the company.

    Sources tell the WSJ that Spotify has closed a $526 million round of funding (which puts the company's value at $8.53 billion). The financing closed just yesterday, the report explains.

    Spotify says its paying subscriber base now tops 20 million and there are a whopping 75 million active monthly users.

    Source: WSJ
    This article was originally published in forum thread: Spotify Growth in Focus as Apple Music Launch Draws Near started by Michael Essany View original post
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