Tajuk : Spotify grew its revenue to $3.5 billion last year, and will pay music labels billions over the next 2 years
link : Spotify grew its revenue to $3.5 billion last year, and will pay music labels billions over the next 2 years
Spotify grew its revenue to $3.5 billion last year, and will pay music labels billions over the next 2 years
Music streaming service Spotify’s operating loss widened in 2016 but revenue rose significantly, the company said in its annual financial statement, ahead of a possible stock market listing before the end of next year.
Spotify, which has been the subject of intense speculation about a potential direct listing on the New York Stock Exchange, made an operating loss of $389 million (349 million euros) in 2016, compared to a $263 million (236 million euro) loss the previous year.
“This is explained by substantial investments that have been made during the year, mostly in product development, international expansion, and a general increase in personnel,” Spotify’s Luxembourg-based holding company wrote in its regulatory filing on Thursday.
Spotify raised $1 billion in debt financing in March 2016 and it plans to pay record labels approximately 2 billion euros in royalty payments over the next two years, according to the filing.
Revenue rose to roughly $3.5 billion (2.93 billion euros) from roughly $2.15 billion (1.93 billion euros). The company revealed that it has 140 million monthly users on Thursday, up from 126 million at the end of 2016.
Spotify could be floated within a year, a source familiar with the matter told Reuters this month.
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
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Music streaming service Spotify’s operating loss widened in 2016 but revenue rose significantly, the company said in its annual financial statement, ahead of a possible stock market listing before the end of next year.
Spotify, which has been the subject of intense speculation about a potential direct listing on the New York Stock Exchange, made an operating loss of $389 million (349 million euros) in 2016, compared to a $263 million (236 million euro) loss the previous year.
“This is explained by substantial investments that have been made during the year, mostly in product development, international expansion, and a general increase in personnel,” Spotify’s Luxembourg-based holding company wrote in its regulatory filing on Thursday.
Spotify raised $1 billion in debt financing in March 2016 and it plans to pay record labels approximately 2 billion euros in royalty payments over the next two years, according to the filing.
Revenue rose to roughly $3.5 billion (2.93 billion euros) from roughly $2.15 billion (1.93 billion euros). The company revealed that it has 140 million monthly users on Thursday, up from 126 million at the end of 2016.
Spotify could be floated within a year, a source familiar with the matter told Reuters this month.
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
✍ Sumber Pautan : ☕ Business InsiderBusiness Insider
Kredit kepada pemilik laman asal dan sekira berminat untuk meneruskan bacaan sila klik link atau copy paste ke web server : http://ift.tt/2seQDA7
(✿◠‿◠)✌ Mukah Pages : Pautan Viral Media Sensasi Tanpa Henti. Memuat-naik beraneka jenis artikel menarik setiap detik tanpa henti dari pelbagai sumber. Selamat membaca dan jangan lupa untuk 👍 Like & 💕 Share di media sosial anda!
dengan itu Perkara Spotify grew its revenue to $3.5 billion last year, and will pay music labels billions over the next 2 years
Kini anda membaca artikel Spotify grew its revenue to $3.5 billion last year, and will pay music labels billions over the next 2 years dengan alamat pautan https://timesnewmalaysia.blogspot.com/2017/06/spotify-grew-its-revenue-to-35-billion.html
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