Spotify has confirmed that it has 10 million paying subscribers globally and that there are now 40 million active monthly users for the music streaming platform.

Spotify, launched in 2008, has become the name to beat when it comes to music streaming, offering advert-free unlimited streaming for paid subscribers, or ad-supported music for those wanting free access. 

Much of the success of the platform has been down to its wide availability across desktop and leading mobile platforms, as well as integration into systems such as Sonos.

The most streamed artist is Eminem, which might be to the chagrin of Dr Dre's Beats Music, which is thought to have around 111k paying customers. 

 "We've had an amazing year, growing from 20 markets to 56 as people from around the world embrace streaming music. 10 million subscribers is an important milestone for both Spotify and the entire music industry," said Daniel Ek, CEO and founder, Spotify.

"We're widening our lead in the digital music space and will continue to focus on getting everyone in the world to listen to more music."

Spotify states that it has contributed over $1 billion to music rights holders.