Spotify's Latest Funding Numbers Attempt To Slow Apple Music's Momentum

They also announced they've reached 20 million paid subscribers.

Image via Spotify

With Apple's new streaming service, Apple Music, generating all of the buzz lately, Spotify is attempting to throw a haymaker their way with their latest release of funding numbers. According to their press release, the company raised $526 million in their latest round of funding, which is well over their original goal of $400 million. In addition to their funding goal, Spotify also announced that they've now reached a total of 20 million paid subscribers and a total of 75 million active users of the service. With the upkick in funding and users, Spotify is now expanding their service, which will now include video features with exclusive content from ESPN, BBC, Comedy Central, and more. 

They also claim that they have paid out over $3 billion in total royalties, and $300 million in 2015 alone. So while Apple Music is ready to get rolling later this month, Spotify is here to remind everyone that they are, for now, the king of the streaming game. 


[via Spotify]

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