Spotify to surpass iTunes revenue in Europe

At the moment Spotify has 24 million users, and 6 million of these are paid. Once it surpasses the 10 million mark, it will defeat iTunes in Europe.

Spotify has confirmed that it is approaching 10 million paid subscribers, and out of these 1 million were gained in the past four months with its recent partnerships with Vodaphone and the Sunday Times. 

According to Spotify " Some of our partners are saying Spotify is now generating more revenue each month across Continental Europe than iTunes."
" Given that download sales are declining and Spotify is growing rapidly, particularly in the UK, it is only a matter of time before Spotify is bigger than iTunes across Europe as a whole."