Spotify hits 50 million paid subscribers mark

Music streaming service Spotify has announced a new milestone for the company: 50 million paid subscribers.

The news was announced on Spotify’s Twitter channel, and is notable as the company previously revealed it had 30 million paying subscribers this time last year, meaning the company has gained a further 66% of paying subscribers in the 12 months since.

Spotify is also reportedly developing a lossless audio feature called Spotify Hi-Fi, although no information has been revealed as to when this feature will be made available for users.