Spotify is converting more and more customers into paying subscribers. Out of 100 million users, over 28 million are premium users. The 28% conversion rate really matters, as it is now higher than ever before. Although the figure doesn’t tell us how much each premium user is paying, there are 28 million people generating more than $1 billion yearly, 70% of which will be paid to music righthsolders. In other words, In other words, $116 Million a month will go into music business coffers.