Spotify is set to launch its popular music-streaming service in Canada, and has further plans to possibly expand into Asia and South America, according to the Anglo-Swedish company’s recently published annual accounts…
Spotify’s rapid international expansion has been costly. Last year its net loss widened to €45.4 million ($56.6 million), from a €28.5 million loss in 2010…
While losses are piling up for Spotify, its revenue is also increasing rapidly. Last year, the company’s revenue totaled €187.8 million, up from €73.9 million a year earlier. This revenue increase is largely a result of higher sales of music-streaming subscriptions, which increased to €156.9 million last year from €52.6 million in 2010. However, advertising sales for Spotify’s free-of-charge service are lagging, having reached €27.6 million last year from €21.1 million in 2010.
via Spotify to Launch in Canada – WSJ.com. (Our emphasis.)
