22-11-2010, 05:43 PM
Spotify reported loss of millions in 2009
During 2009, Spotify made a loss of nearly £17 million.
The Swedish company has published its 2009 financial accounts, which paints a bleak picture of its first full year of existence.
The cost broken down
The company ended the year with seven million users across Europe, of whom more than 250,000 were paying subscribers. The company’s registered users increased sevenfold during the year according to the accounts – so it started 2009 with around one million.
The company’s spokesman confirmed that there has been no changes to Spotify’s plans to launch in the US before the end of 2010.
- Minus a load of waffle, just the facts here folks!
During 2009, Spotify made a loss of nearly £17 million.
The Swedish company has published its 2009 financial accounts, which paints a bleak picture of its first full year of existence.
The cost broken down
- Sales = £18.8 million
- Administration = £8.3 million
- Distribution = £608,711
- Revenue = £11.3 million
The company ended the year with seven million users across Europe, of whom more than 250,000 were paying subscribers. The company’s registered users increased sevenfold during the year according to the accounts – so it started 2009 with around one million.
The company’s spokesman confirmed that there has been no changes to Spotify’s plans to launch in the US before the end of 2010.
- Minus a load of waffle, just the facts here folks!