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Spotify now has 20M users and 5M paid subs, CEO Daniel Ek boasts. U.S.-only Pandora (P +1.9%)...

Spotify now has 20M users and 5M paid subs, CEO Daniel Ek boasts. U.S.-only Pandora (P +1.9%) reported 62.4M active listeners for November. The comments come as Spotify reaches a deal with Metallica and rolls out new features that allow users to discover music and follow other users. Meanwhile, the WSJ is reporting on Pandora's challenging business model: while mobile ad rates continue to be a fraction of PC ad rates, Pandora's royalties rise in proportion to its listener hours, regardless of format.
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