Spotify Denies Report Of 3 Million U.S. Users
Yesterday, the New York Post claimed that Spotify has signed up just 3 million users in the U. S. and converted 600,000 to paid subscribers. In a statement to the press, Spotify called the story inaccurate, but provided few hard numbers:
"This story is not accurate. Spotify’s growth and popularity in the US market has surpassed our expectations and we are confident that trend will continue. The ratio of paying subscribers to active free users is over 20% and that is in line with our global conversion rates.”
Numbers matter, as Spotify is reportedly out shopping for $100 million in new funding. Read more: Spotify Chasing Major Financing Round, But Will Investors Bite?