Spotify reaches 2.5m paying subscribers

Spotify has reached 2.5m paying subscribers according to a blog post the company posted today.

The increase in paying customers is likely to have been bolstered by the company’s launch in the US in July, and a partnership with Facebook that began in September.

The tie in with Facebook means that Spotify is now extremely visible on the social network, with friends' music choices showing up in the news ticker.

Bloomberg states that Spotify has gained 500,000 new subscribers from this deal alone, resulting in a 25% increase,

Spotify's earlier post doesn’t go into specifics, but it says that the company has some “exciting developments in the works” that it will announce in the near future.

Rumours note that there's an Spotify event planned for November 30, which should shed some light on any future plans.

However, as we covered back in October, an increase in paying subscribers doesn’t necessarily mean an increase in profits. Spotify's business model is still yet to prove itself.