In the five years that it has been in business, Spotify has built up a membership of 10 million people, with 2.5 million of them paying for the service. Speaking of paying, Spotify has shelled out $500 million in royalties and licensing fees to the music industry. The service offers streaming music as well as radio stations based on specific artists. The free version of Spotify has listening caps and offers advertising while the paid version gives buyers unlimited listening.
Last month, Google announced Google Play Music All Access. If you sign up before the end of the month, the service is $7.99 monthly as opposed to the regular $9.99 rate. Earlier this month, Apple outed its long-rumored iTunes Radio which is free to users while being supported by advertisements.
"Right now, the environment is such that we really can increase our number of engineers by this much. We hope New York City can become the tech hub for the entire company."-Graham James, Spotify Spokesman