Spotify surpasses Apple with 60 million users, preps to go public

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Spotify announced on Monday that it has grown into the world's most popular streaming music service with 60 million subscribers and now is ready for a public listing later this year.

Daniel Ek, CEO of Swedish music streaming service Spotify, speaks at a press conference in Tokyo on September 29, 2016. /AFP Photo

It only took the Swedish start-up and pioneer of music streaming four months to gain an evident progress of a rise of 10 million new paid users from 50 million to 60 million, far exceeding the 27 million users Apple Music had as of July, according to TechCrunch.

This gives Spotify favorable conditions to deploy its new plans including a new loyalty deal with Warner Music, the world’s third-largest label.

Now Spotify is stepping into the Podcast game with a new podcasting push. This is a space that is still dominated by Apple Music. Spotify will produce more podcast-focused advertising and original content along with a new group of shows in the coming months, according to Bloomberg.

The battle between Spotify and Apple Music has never stopped. With unlike services and music experiences, Apple Music is likely to attract particular artists with three-month trials and exclusive early access to top albums while Spotify remains go-to streaming service for music lovers.

Swedish music streaming service provider Spotify. /AFP Photo

Apple Music is also constantly working on expanding its business to engage more users. Not long ago, Apple launch a cheaper annual fee registration program (equivalent to 100 yuan per year), which marked a useful change for long-term users.

In addition, Apple has continued to add exclusive content to its lineup.

Spotify has outpaced Apple with a rise of 200 million subscribers and drove back tech tycoons like Amazon and Google in the tech competition. Not to mention the company also holds a leading role in the streaming war with 100 million free users.

AFP Photo

The company is testing whether to devote more resources to areas other than music, and podcasts are a fast-growing field dominated by Apple. Many executives in the music industry suggested Spotify's video game stick around with the music, which would address attention to their artists and new releases instead of transferring its royalty listeners to other content.

Spotify's step up also marked a breakthrough as its business is undergoing a growth for the first time in nearly 20 years. But critics, however, said Spotify should be careful that no record label would expect to see the company's music business transformed into other forms of online entertainment.