Spotify says it's 'a matter of time' before it overtakes Apple's iTunes in Europe

Streaming music service Spotify has genrated more than 1 million active users in the UK in the last four months, as they plan to and try to overtake American media company, Apple's iTunes as the biggest digital music service in Europe in the years to come. In 2013, Spotify  generated 103 million pounds in Uk, as they said they they streamed 7.4 billions of song that year, doubling the total of last year in 2012. The owner of the music stream company said that "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."

"Some of our partners are saying Spotify is now generating more revenue each month across Continental Europe than iTunes," Spotify's head of label relations in Europe, Kevin Brown, told industry site Music Week.

The UK is one of Spotify's biggest markets. The company's UK subsidiary published financial results for 2012 last November, when it generated £92.6m from British customers, including £64.8m from subscriptions and £9.1m from advertising. The UK accounted for just over a quarter of Spotify's global revenues in 2012.

"I don’t see iTunes as our primary competitor - that’s YouTube," said Brown, criticising labels that decide to keep albums off Spotify in favour of exclusive deals with iTunes. "We’re still put in the same bucket as iTunes by some labels, whose music then appears on YouTube. 

I think that Spotify is becoming a popular app to use and many people will feel that its better to use than Apple's iTunes, as people only have to stream this music and its on their phones, tablets and any other device. I think that Mr brown is right of saying that iTunes is not our primary competitor - thats YouTube. I think Youtube is generating millions of people every day and Spotfiy want to be apart of that tend and generate millions of uses every day as well.