Now ready to launch in America
- Spotify has 1 million paying subscribers around Europe.
- Spotify is continuing fund raising from investors, ready to launch in America.
- 6.67 million People use the Anglo-Swedish company, the majority of these uses a free service.
- The free service is subsidised by adverts.
- Users whom switch to the premium services, is where Spotify makes money.
- The premium service removes the adverts and allows listeners to use smartphones.
- With Spotify in the process of a $100m funding round, analysts predict the values of the company to be in the region of $1bn (£616m).
- Big music labels are concerned about the success of the business, this is causing hold ups in the US launch plans.
- Royalties are paid each time a song is played in Spotify.
- It was estimated that last year, 7-8% of Spotifys total user base was by paid subscribers.
- This % has risen to 15% this year the company says.
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