Spotify's Paid Subscribers Soar Past 83M
- 6 years ago
Spotify's Paid Subscribers
Soar Past 83M The addition of 8 million paid subscribers is up from 75 million at the beginning of the year. The big question Almost all the revenue generated by streaming music companies goes directly to record labels and rights holders. This is not an issue for a company like Apple, But for Spotify, which offers nothing but music streaming, slim margins are a disaster once the cost of running a business is taken into account. The company's losses are
more than double this year,
up to $460 million. Spotify believes that prioritizing subscriber growth over profit will boost the value of the business over the long term.
Soar Past 83M The addition of 8 million paid subscribers is up from 75 million at the beginning of the year. The big question Almost all the revenue generated by streaming music companies goes directly to record labels and rights holders. This is not an issue for a company like Apple, But for Spotify, which offers nothing but music streaming, slim margins are a disaster once the cost of running a business is taken into account. The company's losses are
more than double this year,
up to $460 million. Spotify believes that prioritizing subscriber growth over profit will boost the value of the business over the long term.