Spotify reports $159 million net loss in the first quarter of 2019
It's a hit despite reaching 100 million premium subscribers...
Spotify have reported a net loss of $159 million for the first quarter of 2019.
Despite hitting 100 million premium subscribers, the Swedish streaming giant announced the €142 million deficit - a figure that's down from €169 million in the same quarter a year ago.
The company launched in India in late February, expanding their global market footprint to 79 countries.
Last month, Spotify, Amazon and Google opened a legal appeal a significant royalty increase for songwriters.
Streaming accounted for 75% of music industry revenue in 2018.
It was recently announced that Spotify paid $340 million for its podcast expansion.
Related Content
Copyright Thrust Publishing Ltd. Permission to use quotations from this article is granted subject to appropriate credit being given to www.djmag.com as the source.
