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Spotify more than doubles revenues in 2012

Thursday 1 August 2013 | 10:18 CET | News
Streaming music service Spotify more than doubled revenues in 2012 to EUR 435 million as it expanded to new markets and almost doubled its users, according to an annual filing in Luxembourg where the company is registered. The company's net loss widened to EUR 58.7 million from EUR 45.4 million in 2011, Reuters reported. The unlisted company, which has more than 20 million active users and over 5 million paying subscribers, did not rule out further fundraising to support its growth. Spotify said that it almost doubled the number of monthly active users during 2012 as it launched in countries

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Categories: Internet
Companies: Spotify
Countries: World
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