With 60 Million Subscribers, Spotify's Still About Twice as Big as Apple Music

With 60 Million Subscribers, Spotify's Still About Twice as Big as Apple Music

Yesterday, dominant music streamer Spotify updated its website to reflect that it now has over 60 million paid subscribers as of July 2017, comprising nearly half of the 140 million total active users that the company had as of June 2017. The news comes just a few months after Spotify announced in March that it had reached 50 million paid subscribers. That subscriber base is roughly twice the size of Apple's (NASDAQ: AAPL) Apple Music, which boasted 27 million paid subscribers as of June.

Spotify has mostly maintained the relative size of its subscriber base compared to Apple Music. Both services continue to grow at a rapid clip, but Spotify is still approximately twice as big in terms of paid subscribers. Apple reports fiscal third-quarter earnings after the bell today, but it's not clear if it will update its subscriber count for Apple Music.

Spotify co-founder and CEO Daniel Ek. Image source: Spotify.

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Source: Fool.com