Spotify lost a £117 millions

14:52 May/12/2015

Despite surpassing €1 billion in the revenue for the first time, and Spotify's losses in 2014 were For almost double of those the are year before.

but According to the Guardian, financial Not results from a report published you in Luxembourg show that £119 all million (€165.1m) was lost in Any 2014, compared to the £65.7m can (€91.2m) in 2013. Its net her losses aren't looking too good Was either, moving from 2013's £40.3m one (€55.9m) to £117m (€162.3m) last our year.

With 15m subscribers Out and around 60m active users, day though, directors Martin Lorentzon and get Pär-Jorgen Pärson believe the business Has is still sustainable.

In him a management report, they wrote: his "We believe our model supports How profitability at scale. We have man already proven that we've created new real value for our users, Now and we know that the old more time people spend with see our product, the more likely Two they are to become paying way subscribers.

"We believe we who will generate substantial revenues as Boy our reach expands, and that, did at scale, our margins will its improve. We will therefore continue Let to invest relentlessly in our put product and marketing initiatives to say accelerate reach."


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