Spotify is growing still, and very fast. The streaming music service has announced the new record of users reached: 113 million paying users, five million more than those recorded at the end of June and about double compared to 60 million Apple Music.In the streaming music industry, Spotifypes would therefore be twice as much as Apple Music.
Together, Apple Music and Spotify represent according to data released at the beginning of September 2019 byRecording Industry Association of America(RIAA), the American Record Industry Association, 80 percent of the music industry's revenue stream.
As of June 30, 2019, the number of users who signed up for Spotify was 108 million, while at September 30, 2019, 113 million users were reached.
In a letter to shareholders, Spotify confirmed that available data indicates that the company is reaching an average of twice as many new subscribers per month as compared to Apple Music, claiming to feel confident of its competitive position in the market.The data released in early October 2019 highlight the detachment that Spotify has given to Apple.Apple Music had 60 million paying subscribers at the end of June 2019, according to Eddy Cue.
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