Spotify Growth Continues, Value Now Estimated at Over £2bn

Hot on the tails of launching its eagerly anticipated app for the iPad a couple of weeks ago, Spotify launched its services in Australia and New Zealand yesterday, having expanded into Germany back in April.

Three price plans are available for users from the Pacific island nations to choose from - Free, Unlimited, and Premium. Unlimited pricing will cost AU$6.99 while the Premium plan will set music lovers back AU$11.99.

The London-based music streaming service has made a habit of grabbing the headlines recently. Their most recent update - launched on the 11th of May - includes a feature that allows users to generate and share their own playlist-based radio stations, a significant improvement in terms of its social functions.

The company is also rumoured to have lined up around £139 million in additional funding. If accurate, the figure would lift Spotify's total value to over £2.5 billion - investors are said to include New York-based investment bank Goldman Sachs.

At present, Spotify is available in 13 countries and claims to have 10 million subscribers with around three million paying users enjoying the service.

Source(s): The Next Web, New York Times