Photo of Spotify CEO Daniel Ek by Michael Loccisano/Spotify

Spotify has surpassed 40 million paid subscribers, the music streaming platform revealed Wednesday.

CEO Daniel Ek first announced the news today on Twitter, with the company subsequently confirming the achievement. Having previously reached the 30 million benchmark (with 100 million overall users) in March, that puts Spotify's monthly growth rate at just under 1.7 million paid subscribers.

That's a massive increase for the company, which had just 15 million paid subscribers in January 2015 and took four years to get to 10 million.

It also comes as the music streaming battles are intensifying, with Apple Music following behind with 17 million subscribers, compared to 15 million in June (or a monthly growth rate of 670,000. 

While Apple Music is much younger, having only launched in January 2015, it started with a hefty base of existing iTunes users and iPhone owners to easily convert to subscribers. It's also been rumored to be eyeing a deal with much smaller streaming platform Tidal.

Coincidentally, Tidal is apparently struggling more than previously suggested, with The Wall Street Journal reporting Tuesday that parent company Aspiro posted a $28 million last year, nearly triple its recorded 2014 loss.

It's not all good news for Spotify, however, as Swedish publication Breakit reported today the company's chief revenue officer, Jeff Levick, is leaving after joining five years ago.

Nonetheless, as the music and streaming industries continue to evolve, it seems Spotify is having a good week.