Spotify has the music streaming industry's biggest paid subscriber base, with 30 million users paying to listen, but the vast majority still tune in for free with commercial breaks.
Competition is fierce with Apple Music launched just last year and already claiming 13 million paid users while Alphabet's Google competes with Google Music and Youtube.
Sources have told Reuters that Amazon.com Inc is preparing its own standalone service.
Spotify, founded in 2006, pays more than 80 percent of its revenue to record labels and artists and has not yet shown a profit as it spends to grow internationally.
Last year, it made an operating loss of €184.5 million, widening from 165.1 million in 2014.
