Since Spotify launched
in the US last month, the service has grown by leaps and bounds.
After just one week, it reportedly
had 70,000 paid subscribers. Now it has been reported that around
1.4 million Americans have signed up to Spotify even though the free
version of the service is still invite-only.
According to All Things D, 175,000 of those users are paying
subscribers, which is a conversion rate of 12.5 percent. It is not clear
how many are paying for the $4.99 unlimited Web plan and how many are
paying for the $9.99 premium subscription, which includes access to
Spotify from mobile devices.
Spotify has 1.6 million subscribers in Europe — where it launched in
2008 — so the fact Spotify has 175,000 subscribers in the U.S. after
less than a month is impressive. It will be interesting to see if
Spotify can sustain this rate of growth once it opens up to the public,
since the hype surrounding Spotify’s launch may have led to many users
opting to taking out a subscription so that they could check it out
without having to wait for an invite.
Spotify has a long way to go to catch up with Rhapsody, the biggest
streaming music service in the U.S. Rhapsody said last month that it has
800,000 subscribers. Spotify is also facing competition from Rdio, which last
week launched its iPad
app.
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