Spotify now has ten million paying subscribers across the world.
When combined with people who use the online music streaming provider's free service, this means it has over 40 million active users across 56 different markets.
Daniel Ek, Spotify founder and chief executive, stated: "We've had an amazing year … Ten million subscribers is an important milestone for both Spotify and the entire music industry.
"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 was launched in 2008 and rapper Eminem is the artist who has been listened to most frequently in the years since. Rihanna is the most streamed female musician, followed by Katy Perry. David Guetta is the second most listened-to male artist, but has the highest number of followers at more than five million.
Avicii's 'Wake Me Up' is the individual song that has been listened to most, having been streamed some 235 million times.
Since its launch, Spotify's users have created over 1.5 billion playlists, with five million either created or updates on a daily basis.
The company said its success is also significant for the music industry as a whole, with the streaming service having generated more than $1 billion (£590 million) for rights holders.
Spotify's popularity is evidence of the growing role the internet is playing in how people listen to music. Figures released by the British Phonographic Industry earlier this year revealed Britons streamed 7.4 billion songs in 2013, which is the double the figure that was recorded 12 months earlier.
A total of 175.6 million songs were downloaded in the period, meaning overall music trade revenues exceeded £1 billion.
Research from the Official Charts Company and Radio One has revealed Robin Thicke's Blurred Lines is the UK's most downloaded song of all time, having been downloaded more than 1.5 million times since its release last year.