SPOTIFY HITS 20M PAYING CUSTOMERS

Spotify isn’t taking this Apple Music thing lying down. A day after the big unveiling in San Francisco, the reigning on-demand service confirmed a $526m investment round—or war fund—and announced that it has surpassed 20m paying users, Music Business Worldwide reports.

Spotify claimed to have reached 10m paying subscribers just over a year ago, meaning it has doubled its subscriber base in a year—after taking nearly six years to accumulate those first 10m.

In its previous update five months ago, Spotify said it had 15m paying subs and 60m total active users. Its total user base has now surpassed 75m people, 55m still opting for the free tier.

And here’s a clever stat: Spotify says it’s adding a subscriber every three seconds.