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Spotify has 20 million paying subscribers

Even though everyone's been talking about Apple Music, the company's new streaming service which will “revolutionize” the way we see and hear music (Apple likes revolutionizing everything), Spotify doesn’t seem to be all too much upset about it.

And in reality, why should it be, when it now has more than 20 million paying subscribers.

The new figures have been released at the Spotify blog this morning, and they show a 100 per cent growth from last year (the company had 10 million subscribers this time last year).

Spotify now has 75 million active users in total, up 87 percent from the 40 million last year.

“We have now paid more than $3 billion USD (£1.93bn) in royalties, including more than $300 million (£193m) in the first three months of 2015 alone,” Spotify says in the blog post.

If the company manages to keep its current growth rate of one new subscriber every three seconds, then those royalty payments will likely rise again, but the Apple competition is a big distraction.

The biggest difference between Apple Music and other streaming services is the price.

Apple Music will launch on June 30th priced at $9.99 (£6.5) a month. It also has special family prices: Apple offers a family plan that can be shared by up to six people for $14.99 (£9.89). Spotify and Rdio also offer family plans, but those cost $14.99 for two people and $29.99 (£19.60) for five.

The Cupertino giant is forcing the competition to lower their prices, and now we will wait and see who can last and how long.