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The music streaming service Spotify Inc says it now has more than 100 million active users each month, confirming the new figure to The Telegraph today.

The report also says the company has been adding 1.8 million users each month and about 30 per cent of total Spotify users, or more than 30 million, are paid subscribers.

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These new numbers follow Apple Inc.’s announcement last week that its music subscription service Apple Music has passed 15 million paid subscribers after just one year. Apple is banking on more human curation and original content, such as its Beats 1 radio station, in its upcoming revamp of the service to create a competitive advantage.

But Spotify has been around the music-streaming block longer, officially launching back in 2008. While the company does have some human curated playlists, it has been acquiring companies that can better its algorithm-based music discovery offerings instead. Spotify also has a free tier model, where revenue is generated by advertisements instead of a paid subscription, and recently announced it will be getting into video content to help grow its base.

Investment bank GP Bullhound recently said Spotify has passed Skype as the most valued European startup, now sitting at around US$8.5 billion.

Financial Post

jomcconnell@postmedia.com

Twitter.com/JoshMcConnell