Swedish music streaming service Spotify is prevailing as the big doge’s of the game with the global streamers rounding up more investors for a big ol’ cash injection into the site.

According to CNBC, Spotify has managed to raise a further $350 million, which pushes the companies valuation to $8 billion.

The streaming site currently has over 60 million monthly users of which 15 million are paying subscribers. The investment is rumoured to be geared towards getting more of their existing subscriber onto the paid service and to counter fresh competition from platforms including the celebrity studded ‘TIDAL‘.

Source: CNBC