Spotify Has 10 Million Subscribers, Which Implies It's Doing Over $1.2 Billion In Annual Revenue

Steve Kovach/Business Insider

Spotify just announced some new user numbers.

It's at 10 million subscribers, and 40 million active users. Last March, it had 6 million subscribers.

A Spotify subscription costs ~$10/month. If those 1o million users are subscribing for all 12 months, that's ~$1.2 billion in revenue. The non-subscribing users are served ads, so that's additional revenue there.

Spotify is not profitable, however.

There is talk of Apple diving into the streaming music business by purchasing Beats Audio. Spotify is proving that you can generate sales, which has to be tempting to Apple.

Here's the release:

Spotify hits 10 million global subscribers

• Spotify has 10 million paying subscribers and more than 40 million active users across 56 markets
• Eminem is the most streamed artist of all time, and 'Wake Me Up' by Avicii is the most streamed song of all time on Spotify

Spotify today announced that it now has 10 million paying subscribers and more than 40 million active users in 56 markets worldwide.

"We've had an amazing year, growing from 20 markets to 56 as people from around the world embrace streaming music. 10 million subscribers is an important milestone for both Spotify and the entire music industry," said Daniel Ek, CEO and Founder, Spotify. "We're widening our lead in the digital music space and will continue to focus on getting everyone in the world to listen to more music."

Since Spotify's launch in 2008, users have created over 1.5 billion playlists, collectively creating or updating over 5 million playlists each day.

To celebrate the music lovers and artists who made this milestone possible, today we are revealing Spotify's top performers:

• Most Streamed Artists: Eminem is the most streamed artist of all time, and Rihanna the most streamed female artist. David Guetta is the second most streamed male artist and Katy Perry the second most streamed female artist of all time.
• Most Streamed Song: "Wake Me Up" by Avicii is the most streamed song of all time with more than 235 million streams.
• Most Followed Artist: David Guetta is the most followed artist on Spotify with more than 5 million followers.
• In the past month: Top 100 Pop Tracks on Spotify was the most streamed playlist, while Clean Bandit's "Rather Be feat. Jess Glynne" was the most played song in offline mode.

Spotify's growth and global reach is not only significant for us, but for the entire music industry. Since 2008, Spotify has driven over $1 billion dollars to rights holders.