Spotify is growing rapidly with every single day, making it the most popular streaming service available. This Monday, the company revealed that they have increased their subscriber’s base with another 10 million people from March until now.
The increase comes in the most accurate time as the company is about to go public at the end of the year according to the rumors. The growth of Spotify slowly kills its competitors and especially SoundCloud. For the past few months, the company has been trying to monetize its services in order to survive.
According to the company, around 175 million people listen to SoundCloud on a monthly basis. However, anyone can listen to free tracks without registering to the platform, and they have a rough time making money out of that.
It’s somehow sad to hear about the streaming service struggles as it has given us the music of fascinating artists such as Chance the Rapper and Fetty Wap. Moreover, many performers such as Kanye West and Skrillex use the website for experimental new tracks.
Spotify has about 140 million monthly active users aside of its humongous subscriber’s base. However, the competition in the face of Apple Music, Google Play Music, Amazon Music and Tidal is quite tough. This could lead to a significant decrease in the growth of the streaming service.