Spotify reaches 50 million paying users

Spotify has reached a new milestone after it crossed 50 million paying users. The service is currently available in over 60 markets, with a total catalog of more than 30 million songs. The streaming firm clocked 40 million ‘Premium’ subscribers in September 2016, having hit the 30 million mark in March, so the growth rate has continued to be fairly consistent. Aside from its $9.99 paid plan, Spotify also offers a more limited free option that it monetizes via ads. In June last year, the company disclosed that it had reached 100 million registered users — including paying and non-paying users — but we haven’t had a newer figure since then. The opportunity this presents for brands: a strengthened business case for bringing the platform into the mix of digital communications channels, especially given the intricate targeting feature offered by the service. Furthermore, with brands including Bacardi and Gatorade set to deploy ‘Branded Moments’ – a service allowing “marketers to identify — in real-time — what a listener is doing,