Spotify now has 50 million subscribers, and is undoubtedly the largest music streaming service worldwide – Spotify now has a significant lead over Google, Apple Music and SoundCloud. The music industry, now, has a workable revenue model and something to build off of.

Spotify.com and the Music Industry | VivekShenoy.com

Source: Wikimedia Commons

 

Spotify Hits 50 Million Paid Subscribers, Lifting Music Industry

This might seem like vindication for the company, and perhaps the industry. A little over six months ago, there were speculations about the company’s financial conditions.

Cash-Strapped Spotify Is Desperately Seeking a $500 Million Loan

Or, correlations between Spotify’s financial troubles, and the music industry as a whole.

Spotify’s Financial Results Reinforce Just How Broken the Music Business Is