Music Business

Spotify Launches In 8 New Markets

image from www.hypebot.comThe news that iTunes and Google are readying the launch of music streaming services appears to have motivated Spotify to ramp up its own efforts to grab market share. Today the music streamer took its first steps in
Latin America with Mexico, and Asia with Hong Kong, Malaysia, and
Singapore. Spotify also launched today in Estonia, Latvia,
Lithuania and Iceland, bringing the their total markets served to 28. 

The company also just launched its first ever paid ad campaign, spending $10 million across a variety of media.

With the announcement came these updated Spotify stats:

  • 24 million active users
  • 6 million paying subscribers.
  • Since its launch in Sweden in 2008, Spotify has driven
    more than half a billion US dollars to rights holders and expects to drive
    another half a billion US dollars to rights holders during 2013. 

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