Tuesday, 12 May 2015

Spotify's revenues and losses up

Spotify saw both revenues and losses rise in 2014. Revenues were up 45% to 1.08 billion euros. As a result payouts to the music industry rose proportionally to 882 million euros. Spotify itself remains a loss-making business, with net losses up 190% year-on-year to 162 million euros.

Spotify has reportedly secured another $350 million in its new round of fundraising, new investment that gives the streaming firm an $8 billion valuation.

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