Spotify has announced today that they have reached their first major milestone, one million paying customers.
Says the streaming music company:
It seems like only yesterday we were hatching ideas for a new music service in a tiny office-cum-apartment with a broken coffee machine, and the party we threw having reached one million users almost two years ago today was one to remember.
So it’s with a sense of real pride and excitement that we can announce a new milestone today, having welcomed our millionth paying subscriber to the service. It’s a testament to our fantastic users who continue to support us and spread the Spotify word, either by telling friends or sharing some of the 200 million playlists that you’ve put together so far.
From everyone at Spotify, we’d like to give you all massive thanks. We’ll continue to focus on providing you with the best music service possible, and look forward to adding even more cool new features over the coming months. What’s really exciting is that this is only the beginning.
Overall, the company has 7 million active users and over 10 million registered users.
Spotify is aiming for a U.S. launch soon, and has reportedly signed deals with EMI and Sony Music. The service is allegedly close to signing a licensing deal with Universal Music Group, the largest label in the world.
Result for: music company
The giant German conglomerate Bertelsmann is in talks with its partner Sony to sell Bertelsmann’s half of the jointly owned music company Sony BMG back to Sony.
Each company has owned 50 percent of the music publishing firm since its launch in 2004 and Sony has the option to buy Bertlesmann’s stake if it ever chooses to sell any or all of its stake.
So far spokespeople for both companies have declined to comment on the speculation.
The sources for the rumor also added that Bertelsmann CEO Hartmut Ostrowski has decided its time to move out of the music business, citing the spectacular fall of physical CDs sales.
In 2006, Bertelsmann sold the rights of BMG Music Publishing’s catalogue to Vivendi and if this current deal goes through could end their run in the music business.