Spotify profit due?

Spotify is due to report a profit when it publishes its 2010 results later this year. The online streaming service with 1.9 million paying users and 6 million free users in the US and Europe turned over an estimated E59 million and paid out E45 million to record labels. No details are known about music publisher payments, but with some E10 million spent on marketing and business overheads, a profit of E5 million could be achieved, against a loss of around E20 million last year on turnover of just E13 million in 2009. Spotify is now looking to shift users from the now restricted free service to paid for subscription services.