Spotify premium subscribers "less than 10% of users" plus movie version planned

When we met Spotify a couple of weeks back they were cagier than the tigers at London zoo about figures and profitability. Tonight, Spotify boss Danie

When we met Spotify a couple of weeks back they were cagier than the tigers at London zoo about figures and profitability.

Tonight, Spotify boss Daniel Ek admitted that less than 10% of Spotify subscribers had upgraded to the Premium version.

Spotify claims over 1 million subscribers but only a maximum of 90,000 of them are stumping up £10 a month for the ad-free Premium service. That means it brings in just £900,000 a month – not small change but not enough to make the service profitable.

It's likely that the Spotify Mobile app on Android and iPhone will increase those numbers but Spotify is keeping just how much close to its chest.

Ek told the crowd at the Glasshouse that Spotify could be profitable if it "chose to be" but that he's focused on developing the business.

Ek's idols when it comes to working out what to do in business? The guys behind Twitter – another service that's not making money yet.

While the Premium subscription numbers for Spotify don't exactly look that encouraging, Ek says revenue is jumping 50% a month.

In other interesting news, Ek spoke positively about developing a version of Spotify for movies. But don't hold your breath – it'll be a while. "We can expand to movies," he said. "But first we need to prove that musicians make money from Spotify",

It seems there are more exciting, if uncertain times ahead for Ek and his merry band at Spotify. But they're not the only streaming services out there. Take a look at our guide to the 10 Best Music Streaming Sites.