In the first three quarters of this year, Spotify earned about $500 million in revenue, up from $370 million in the same period last year, according to a new study.
Spotify is owned by Google, and the company recently raised $2 billion in funding to acquire music and video streaming company Pandora, which is worth about $70 billion.
The deal is expected to close in the first quarter of 2019.
It’s the biggest acquisition in the history of the company.
Spotify has already acquired dozens of other companies in the music industry.
Spotify currently offers over a billion songs in over 50 countries.
The company already has more than 200 million paid subscribers, but the company expects to grow its streaming subscriber base to 200 million people by 2019.
Spotify is also working on a service that lets people stream music through Google Play Music.
In an interview with Reuters last month, CEO Daniel Ek, said that Spotify is trying to compete with Pandora and Apple Music.
Ek noted that Spotify would invest more than $1 billion in new content.
A Spotify spokesman told Next Big Futures: “We’re working hard to build the next billion, and we’re excited to be partnering with Google and Google’s engineers to accelerate our progress.”