Today Spotify has expanded into seven new markets, hitting four countries under ArcticStartup’s radar: Estonia, Latvia, Lithuania, and everyone’s favorite, Iceland. It’s part of today’s bigger push, where they’ve expanded into Hong Kong, Malaysia, and Mexico. This now brings them to 31 countries, by my count.
There’s not much more to say about this news, but for our readers in the Baltics or Iceland, it’s worth the download. For better or worse it’s become one of those services I don’t want to live without – I like having 20 million songs on my computer or phone, and Spotify’s UI is clean and constantly improving.
Spotify has roughly 24 million users, of which 6 million are paid subscribers. Despite that, in 2011 they posted a loss of $61 million. Expansion into new markets will give them access to more potential paid subscribers, but it will be interesting to see if they dynamic has changed when they post their 2012 numbers.