Spotify Paid Subscriptions Jump 40 Pct YoY

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Spotify’s paid members now number 87 million — a 40 percent year-over-year (YoY) increase from 2017.

The music-streaming service announced in its third quarter results on Thursday (Nov. 1), revealing an increase of 4 million paid users in Q3 and an additional 25 million paid customers within the past year. The company also highlighted that users who opt in to the free model of the service now number 109 million — a 20 percent boost from a year ago.

Spotify’s growth is expected to continue. The company estimates that paid subscriptions will hit somewhere between 93 million and 96 million by the end of the fourth quarter.

As Fortune pointed out, Spotify’s numbers are higher than Apple Music’s

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