This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Digital
Spotify UK revenues up in 2011
By CMU Editorial | Published on Friday 28 September 2012
The latest figures to come out of Spotify, reported by the Financial Times, show that the streaming firm’s UK company generated revenues of £95.5 million in 2011, up from £63.2 million the previous year.
Both subscription and ad revenues were up, despite Spotify generally pushing its subscription service more strongly over the freemium option these days (though subs money did account for more of the overall income in 2011 than 2010). Subscriptions made £72.5 million and ads £22.4 million. The increases meant that overall Spotify UK saw is losses fall, to £2.1 million from £26.5 million.
It’s worth noting that it’s hard to tell exactly how Spotify is doing from these figures, filed at Companies House in the UK, alone, not least because a lot of the streaming firm’s European operations used to be run through its UK business, but that seemingly stopped being the case half way through last year, meaning these financials include some but not all of the group’s European operations.
The Wall Street Journal recently reported that the digital firm’s Luxembourg-based holding company, Spotify Technologies, saw its losses increase from 28.5 million euros in 2010 to 45.4 million last year.
