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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.
Apple Music screens
Source: Apple
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.
