This morning, Spotify announced that it had reached 4 million paying subscribers worldwide, with 15 million active users.
WHAT DOES THAT MEAN? It means Spotify is underdelivering against fairly wild expectations, on a number of fronts. And 4 million is nowhere near where this company needs to be. This is a company with hundreds of millions of dollars in financing.This isn’t a fun music play, it’s a gigantic financial gamble.
Upon entering the US, for example, they promised 50 million active users to advertisers - within the first year. Maybe revolutions take longer than that, if Spotify and its highly-leveraged structure can afford the time.
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