Is Sweden's Spotify getting into debt to fund its future?
AFP/The Local · 30 Mar 2016, 13:16
Published: 30 Mar 2016 13:16 GMT+02:00
- Sweden's Spotify reaches landmark 30m subscribers (22 Mar 16)
- Spotify to raise millions to boost future growth (28 Jan 16)
Spotify's co-founder Daniel Ek. Photo: Janerik Henriksson/TT
Apple Music, launched in June 2015, has quickly become the second leading force, announcing last month that it had reached 11 million subscribers.
Paris-based Deezer, which is strong in Europe but has a small presence in the United States, says it has six million paying subscribers, while Rhapsody, established in 2001 as the pioneer of streaming, had 3.5 million as of December.
Tidal, a project led by rap mogul Jay-Z and other stars that emphasizes high-quality audio and exclusive releases, said in September that it had one million subscribers but has not given further updates.
Spotify did not immediately comment on the investment loan speculation.