Music streaming service Spotify crosses 20 million subscribers

Music streaming service Spotify has announced that it has reached 20 million subscribers and more than 75 million active users. Compare that to May 2014, when the service counted 10 million paying subscribers and 40 million active users that it had acquired over its first five and a half years. The gain from last year works out to an average of one new subscriber every three seconds, Spotify calculates. The news comes just days after Apple revealed its plans for Apple Music, a direct rival to services like Spotify that is set to launch late this month. At the WWDC 2015, Apple Music was announced on stage by veteran record producer and Apple employee Jimmy Iovine. This is Apple’s first foray into music streaming, and will bring some stiff competition to Spotify, Rdio and others. Apple Music will be priced at $9.99 (approx Rs 640) per month and to get users hooked on to it, Apple Music will be free for the first three months. For a family plan for up to 6 accounts Apple Music will cost $14.99 (approx Rs 960). The service will be launched in over 100 countries by June 30. AFP