Spotify should hit play on Submission Season 1 Episode 1 (2016)a celebratory playlist today.
On Thursday, the company announced it reached 50 million paid subscribers. That's a lot considering it was at 40 million less than six months ago, and only 10 million three years ago.
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While that's a large number of paying subscribers, the streaming service also has more than 100 million total users, including those who listen for free. It hit that milestone in June 2016 -- no biggie.
Those huge numbers haven't necessarily led to profit. The most recently available report shows the company lost a whopping $194 million in 2015 despite a growing subscription base.
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If only celebrity praise was worth hundreds of millions of dollars.
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