Spotify widens paid music streaming lead with 10M subscribers

Spotify surpassed 10 million paying subscribers, the company announced on Wednesday. The music service, which is reportedly planning an initial public offering this year, said it also has 40 million active users, according to Fox Business.

“We’re widening our lead in the digital music space and will continue to focus on getting everyone in the world to listen to more music,” Spotify CEO Daniel Ek said in a statement.

Competitor Pandora has over 70 million active users but just over 3 million paid subscribers.

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