Spotify Boosts Paid Subscribers by 25% After Music Service Joins Facebook
Spotify Ltd., the music-streaming service, increased paying customers by 25 percent after allowing Facebook users to share and stream music.
Spotify has 2.5 million subscribers, a gain of 500,000 since September, when the service became available on Facebook Inc.’s social network, Ken Parks, chief content officer and managing director of North America, said in an interview.
Daniel Ek, Spotify’s founder and chief executive officer, has scheduled a press event in New York on Nov. 30 to announce new plans, without offering specifics. Spotify, which charges $4.99 to listen on personal computers or $9.99 for both PCs and mobile devices, separately counts more than 10 million users of its advertising-supported service.
More than 4 million Facebook users signed up for a Spotify account within six weeks of the service becoming available on the social network, Mountain View, California-based Facebook said Nov. 8 on its website.
Spotify, based in London, is available in 12 countries including the U.S., U.K., France and Sweden, and has a music roster of 15 million songs from artists signed to Vivendi SA (VIV)’s Universal Music Group, Sony Corp. (6758), Warner Music Group and EMI Group, among others, the company said in September.
To contact the reporter on this story: Andy Fixmer in Los Angeles at afixmer@bloomberg.net
To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net
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