World’s most popular online music broadcasting platform Spotify, has just announced that they have reached 140 million monthly subscribers. Continuously growing company had reached 50 million paid subscribers by the end of last year’s March.

Having 100 million monthly active users at these times last year, Spotify has grown about 40% since then. Quickly improving Spotify has by far a mountain more above than its biggest rival, Apple Music.

According to the data shared in the beginning of this June, Apple Music has 27 million monthly paid users. Briefly, having almost as twice customers as Apple Music, Spotify keeps dominating the digital music industry. Containing over 30 million songs in its archives, Spotify’s premium version is 13,99 TRY per month in Turkey.

Even though Spotify has managed to increase their users in number, it is not as good as in financial matters. Reports by Reuters have shown that Spotify lost 349 million EUR in 2016. This statistic was around 240 million last year. Critiques say this is a result of their falsely calculated business strategies and due to investments not paying themselves off.

Contributor: Egemen ERES