Spotify is obviously still in the land grab phase. I pay $5 a month for it, and would easily pay at least 6 times that, maybe more.

Furthermore, the vast majority of its users are still freeloaders. I think a sizeable percentage would convert to paying customers if Spotify started to throttle back the free accounts or play more ads. Its an incredible service at a great value, especially when you cough up a tiny bit of money to get rid of the ads.