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Streaming fight heats up between Apple and Spotify

As Apple prepares its launch into the music streaming business, rivals are staking their claim in the sector.

In a blog post on Wednesday, Spotify announced it now has 20 million paid subscribers, double the number the streaming music service had at the end of May 2014.

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Apple Music screens
Source: Apple
Apple Music screens

In addition to the timely blog post—published two days after Apple announced its new streaming music platform—Spotify has also secured a new round of funding that values the company at $8.53 billion, according to a report in The Wall Street Journal.

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Apple Music is slated to launch at the end of June at $10 per month.