Spotify on pace to become the largest streaming platform.
According to Variety, Spotify has 87 million paid subscribers, a 40% jump, the company announced in its third quarter earnings results today, and its total number of users is up 28% to 191 million. The company projected that its paid subscribers will be between 93 million and 96 million for the fourth quarter, while total monthly users will be between 199-206 million.
“Growth continues to be healthy across our Family and Student plans, and the strong retention characteristics of this base continue to drive churn lower,” the company said.
Apple Music is Spotify’s biggest competition but Apple Music has a long way to catch up with only 43.5 million subscribers.