While it was apparent that Spotify's visibility had been on a steady climb, new statistics unveiled by the music streaming giant paint an even greater picture than some might have anticipated. According to stats released today by Spotify, the company now boasts 6 million paid subscribers who make up roughly 25% of their now enormous 24 million user database. In addition to the growing user database, the Spotify Facebook app clocks 1 billion Facebook shares per day. In terms of music, Spotify has publicized that their database of 110 million songs, albums and radio stations have been played 40 billion times.
As the old saying goes, with great power comes great responsibility. According to Billboard, Spotify will generate roughly $684 million this year from subscribers alone — not including advertising — which Spotify also engages in. But, as the on-boarding of new users grows, so does often costly overhead, potential for increased music royalties and the other headaches that are associated with music industry dominance. Only time will tell if the hockey puck growth pattern of Spotify will continue its upward progression with little to no potholes along the way. In the meantime, stream on.