The new milestone means about one in four of Spotify's active users pay to stream music online, rather than opt for the free version that includes commercial breaks.
"We've had a great year, during which we expanded from 20 markets to 56 as people all over the world adopted music streaming," Spotify CEO Daniel Ek said in a statement.
Spotify was launched in 2008. So far, the most streamed artist overall is Eminem. The second most streamed male artist was David Guetta. Among the women, Rihanna landed top spot, followed by Katy Perry.
The most streamed song, which kicked off Spotify's celebratory playlist, is Wake Me Up by Avicii, which has been streamed 235 million times.
Spotify discreetly publishes its financial results from Luxemburg, where it is headquartered. In its latest report for fiscal year 2012, published last year, the company reported net losses of $80.2 million.
In its statement on Wednesday, the group also revealed that "more than one billion dollars" had been payed to the copyright holders since 2000, roughly double the amount paid a year earlier.