Can Spotify in the US convert enough users to subscribers?

Remember when Spotify couldn’t get into the US market because the major labels in the US didn’t think they could convert enough of the free users to premium members?

It’s crunch time, as the six month “unlimited streaming” period comes to an end and Spotify fans in the US will be asked for $5 a month. How many of the subscriber base will move to the “income” column… and will it be enough to cover the minimums that the major labels have likely asked for?