Spotify Royalty Payouts Near $250 Million, Launches In Germany
Along with an announcement that it had launched in Germany, Spotify shared a new royalty payment milestone. Spotify has paid about $250 million USD (€200m) to labels and publishers, up from the $150 million since launching 3 years ago that the company previously reported. Germany is the 3rd largest paid music market globally, and represents Spotify's 13th country launch.
According the IFPI, Spotify is the second single largest source of digital music revenue for labels in Europe (IFPI, April 2011). Spotify offers 16 million tracks and has more than 10 million active users, with 3 million paying subscribers across Europe and the US.
Apps have helped the music streamer expand it's user experience in recent months. The launch in Germany includes ten new local app partners: Eventim, Fellody, Motor.de, Interview Magazine, Intro, Festivalguide, VISIONS, laut.de, tape.tv, and Mit Vergnügen.