Streaming music service Spotify’s UK business was profitable for the first time in 2013, according to the company’s latest set of financial results. They reveal that Spotify Ltd’s revenues rose 41.8% from £92.6m in 2012 to £131.4m in 2013, helping the company’s UK arm to move from an £11m net loss in 2012 to a £2.6m net profit in 2013. This growth can be attributed to a 42% year on year growth in UK subscriptions and also to an increase in advertising revenue,” a Spotify spokesperson told The Guardian .
This comes after Spotify recently announced that streaming service has hit a new milestone of 10 million paying subscribers and 40 million active users in 56 countries across the world, since its launch six years ago in 2008. SEminem is apparently the most streamed artist of all time, wile Rihanna is the most streamed female artist. ‘Wake Me Up’ by Avicii is the most popular song, having already racked up 235 million streams, while David Guetta is the most followed artist with over 5 million Spotify fans.
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