Spotify, the top music platform celebrates 10 years (infographic)

It became the world’s most popular music platform

When Spotify launched its music streaming service in several European countries on October 7, 2008, few people would have thought that this obscure Stockholm-based startup would grow into the world’s most popular music platform over the next 10 years.

Before Spotify’s launch, music streaming was still in its infancy, accounting for just 1 percent of global music revenues in 2007, but eventually, the company’s early bet on streaming would pay off.

As the following chart illustrates, it took a while for Spotify to really take off. By the time of its fifth birthday in 2013, Spotify had roughly 30 million active users and 8 million premium subscribers. In the five years since, however, the service’s user/subscriber numbers have skyrocketed, reaching 180 million and 83 million, respectively, by the end of June 2018. Spotify went public in a private listing on the New York Stock Exchange in April 2018. The company is currently valued at $28.9 billion.

source: statista