Spotify has peaked at 50 million subscribers this week. The streaming giant shared the news in an Instagram post, which you can see below.

The announcement follows up on the news that Spotify is preparing to launch a new high-quality membership tier that includes premium features such as lossless CD quality audio and a discount on limited-edition vinyl.

Last month, SoundCloud also added an affordable tier to their SoundCloud Go platform priced at ￡5.99 per month. Users of SoundCloud Go will have access to over 120 million tracks offline and be able to listen to tunes without ads on desktops and the SoundCloud mobile app.

Thank you to our 50 million subscribers. #Spotify50 pic.twitter.com/eXkOV71bwu

— Spotify (@Spotify) 2017年3月2日