18:46 02 August 2017
Spotify now has 60 million paying subscribers, a spokeswoman for the company has confirmed on Monday.
The leading music streaming service added 10 million subscribers in less than five months, further extending its lead over its closest rival, Apple Music.
In June, the company said that its operating loss widened in 2016 but revenue rose significantly. Recently, it appointed financial advisers to explore direct listing on the New York Stock Exchange.
Last week, Reuters reported that Spotify was close to agreeing a new licensing pact with Warner Music Inc, which sources said the last big music royalty deal it needs before pushing ahead with a US stock marketing listing.
Disclaimer: Supanet is not responsible for, and disclaims any and all liability for the content of comments written by contributors to this website