Spotify has seen a faster pace of growth since the launch in June last year of rival Apple Music. The streaming service was created in Stockholm 10 years ago, and now boasts of having close to 100 million users in more than 59 markets, despite increasing competition and, so far, a lack of profits. In a conversation with Reuters, Spotify vice president Jonathan Forster said:
"It’s great that Apple is in the game. They are definitely raising the profile of streaming. It is hard to build an industry on your own. Since Apple Music started we’ve been growing quicker and adding more users than before. It would be terrible if we were just taking each other’s users or to learn there was just a ceiling of 100 million users – I don’t think that is the case.”
While Spotify’s paid user base has grown more over the past year than in any other, Apple Music has gained more users in the same period. Last month, the company announced it had gained 13 million paid subscribers since June.