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Spotify : 800 Percent Growth In Six Months

Another interesting piece of data that we managed to extract from today's releases is that the company grew its user base from one million in March 2009 to eight million end of August.

That's a staggering 800 percent increase in six months; this is impressive given that Spotify is essentially a piece of software that you need to download/install first. Spotify, which was launched back in October 2008, took five months to reach its first million users.

Swedishwire also reported that it had six million users across Europe at the beginning of August. If true, that's a growth of two million users in four weeks and doesn't even include the thousands of new potential premium subscribers that its new mobile platforms could bring in.

If Spotify can maintain the tempo with the launch of its service in other territories, it could well reach 20 million users worldwide by the end of the year.

Last but not least, let's not forget that Spotify has yet to launch in the US and in other territories. If Spotify can convert a significant proportion of its free users to the £120 premium subscription, it could rival iTunes on a global scale.

It is useful to remind our readers that Sony BMG, Universal Music, Warner Music and EMI hold a small but significant stake in Spotify. Altogether, they bought 18 percent of the shares for 100,000 Kronor (or 9700 Euros) according to Computer Sweden (via Swedishwire).

Our Comments

The likes of Li Ka-Shing, Wellington Partners & Northzone Ventures have poured over the stats before investing tens of millions of dollars in a 10 months old company, valuing it at 170 million Euros, a 70 percent increase over its valuation back in 2008.

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