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Spotify now has 140 million users

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Spotify has surpassed 140 million monthly active users, the company announced today. Back in March, the service announced it had 50 million paying subscribers, which puts its free user base around 90 million.

Spotify still doesn’t have new licensing deals completed with Sony Music or Warner Music.

The company had an operating loss of $389 million in 2016, according to its annual financial disclosure.

The company will reportedly go with a direct listing instead of an initial public offering.

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