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Spotify posts USD2.18b in revenue over 2015
(MENAFN) Spotify's pioneering streaming-music business, now emulated by the likes of Google and Apple, pulled in income of USD2.18 billion over last year.
In accordance, this notable revenue represents a healthy 81 percent increase over the sum of USD1.21 billion the Swedish company generated the year before.
The vast majority of the revenue came from subscriptions, hence Spotify had 30mn music subscribers at March-end, plus it's adding video services, too.
However, regardless to the positive figures tallied so far, the company remains unprofitable, as its loss widened from about USD181 million to USD193 million.
In accordance, this notable revenue represents a healthy 81 percent increase over the sum of USD1.21 billion the Swedish company generated the year before.
The vast majority of the revenue came from subscriptions, hence Spotify had 30mn music subscribers at March-end, plus it's adding video services, too.
However, regardless to the positive figures tallied so far, the company remains unprofitable, as its loss widened from about USD181 million to USD193 million.
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