Spotify's Global Paid Subscriber Base Reaches 10 Million

Online music streaming service Spotify confirmed this week that its global paid subscriber base has reached 10 million, according to Reuters.

Spotify launched back in 2008 and has paid out over $1 billion to rights holders. It has benefited from soaring demand for streamed music.

"We've had an amazing year, growing from 20 markets to 56 as people from around the world embrace streaming music. 10 million subscribers is an important milestone for both Spotify and the entire music industry," said Daniel Ek, CEO and founder, according to Reuters. "We're widening our lead in the digital music space and will continue to focus on getting everyone in the world to listen to more music."

The service said its paid subscriber base jump from 6 million, as reported on its website, due to a strong demand for song from a number of popular artists.

Eminem is the music service's most-streamed artist of all time, and Rihanna is its most-streamed female artist, according to Reuters.

The most streamed song of all time is Avicii's hit "Wake Me Up."

 "We know if you do that, you're going to be like, 'Hey, 10 bucks is nothing. It's like two beers,'" Ek said, according to Bloomberg Businessweek. "In Sweden, it's actually less than one beer."

It currently has over 40 million active users in approximately 56 markets, an increase from a previous 24 million, according to Reuters.