It appears as if Spotify's growth is continuing at a steady pace despite increased competition, as the streaming service is just about to hit another milestone. A recent report says that Spotify is poised to hit a total of 30 million paid subscribers shortly.
Spotify has not officially released its latest subscriber figures, but back in June 2015 it had 75 million total monthly users and more than 20 million paid subscribers. It also claimed that it was on track to hit 100 million total users by the end of 2015.
According to Financial Times, Spotify's growth is impressive given the introduction of two direct on-demand streaming competitors. Apple Music, which just debuted this past June, has already amassed more than 11 million paid subscribers according to the company.
Jay-Z's fledgling subscription based streaming music service, Tidal, had a rocky start, but officially passed the 1 million-subscriber mark last October. The company has gained traction by exclusively introducing two of the most hotly anticipated albums of 2016, Rihanna's "Anti" and Kanye West's "The Life Of Pablo".
Tidal has not released figures on new subscriptions garnered in relation to those debuts. Although, a promotion in conjunction with Samsung for free "Anti" downloads to the first 1 million subscribers included three-month free trial subs, which should help the streamer if it manages to convert some of those users to paid subscribers.
Meanwhile, in separate comment made in Quora, an online Q&A session, Spotify CEO Daniel Ek credited his company with reviving a declining music industry.
"Many people don't realize that the music industry was in decline throughout all the download years (with a one year exception in which it was basically flat). Now, finally, after years and years of decline, music is growing again, streaming is behind the growth in music, and Spotify is behind the growth in streaming," Ek said.
Spotify is certainly by far the top paid streaming music service worldwide right now, and according to the latest figures, is on track to continue dominating the field for at least the near future.