Music streaming service Spotify launched in the US just a few weeks ago, and a source has let it slip that the company already has 1.4 million US users. Also of great importance, Spotify has apparently snared 175,000 users for paid accounts. Not bad for a service that is still invite only.
The music labels that Spotify partners with are quite interested in the conversions rate, that is, the proportion of free users that upgrade to the paid plans. Based on these leaked numbers, the current conversion rate is at 12.5%. Not bad, but lower than the service’s 15% conversion rate in Europe.
A possible reason for the lag is that the current US free offering is a little less restricting, for the time being at least. Another notable number is that Spotify’s entire European user base is just 1.6 million. We imagine that when Spotify opens for all comers in the US, their numbers could balloon. This streaming music thing might work out yet.