Chances are, most app developers do not need to be sold on Spotify. With its massive catalog, wonderfully curated playlists, and high quality audio, the reigning champ of streaming music services has already captured a healthy share of the market. The Napster days of sketchy pirating may not be totally over, but services like Spotify have found a way to put a seemingly infinite collection of music at their users’ fingertips that actually boosts the record companies’ profits. This has helped Spotify cut deals with Universal Music Group and Sony, two of the titans of the music industry, in order to lock down huge chunks of its streaming library. Unlike Netflix, which angered a lot of customers after the first major purge of its streaming video library, Spotify has managed to give users a consistent, trustworthy experience.
That has likely contributed to the startup’s astronomical growth. This March, Spotify announced that it had 50 million paying subscribers. Just yesterday, the company announced that it had picked up ten million more over the last few months, bringing its subscriber numbers to 60 million. That increase suggests to business-minded app developers that the company’s impressive growth is not slowing any time soon. Spotify has left its competitor Apple Music, which has just 27 million subscribers, in the dust. Including non-paying listeners, Spotify has an astonishing 140 million-plus users.
This steady expansion bodes well for Spotify’s possible IPO. Dallas app developers expect the startup, one of the most valuable in Europe, to go public by the end of the year. After establishing solid relationships with record labels and proving that its subscriber base is still growing by the millions, Spotify is poised to make a big splash.Tags: app developers Dallas, app development, Apple Music, business growth, competition, Dallas app developers, Dallas app development, ipo, mobile app news, music industry, record companies, Sony, spotify, spotify ipo, spotify vs apple music, startup growth, startups, startups news, streaming catalog, streaming music, streaming music services, subscribers, subscription services, Universal Music Group