Spotify passes one million paying subscribers mark

Music streaming service now worth $1billion (£616million)

Spotify now has over one million paying customers, it announced yesterday (March 8).

The music streaming service also confirmed that over 15 per cent of its users were now paying subscribers who use the service without having to listen to adverts.

It now has six million users in total, including those who subscribe to the free version of the service.

Spotify chiefs hope to launch it in the US before the end of 2011. The company was recently valued at $1billion (£616million).

Spotify founder Daniel Elk wrote of his delight at the news on the company’s blog,

“It seems like only yesterday we were hatching ideas for a new music service in a tiny office-cum-apartment with a broken coffee machine,” he wrote, “and the party we threw having reached one million users almost two years ago today was one to remember.”