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Spotify UK Reports Booming Revenue, New Focus On Advertising

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Photo via Danindub on Wikimedia Commons under the Creative Commons License

Hypebot reports: “Revenues at streaming music service Spotify’s UK division were up sharply, driven by sustained paid subscriber growth in 2016. According to Spotify’s latest financial statement, which covers the fiscal year ending in 2016, gross revenue rose from £237 million, up from £187 million in 2015, an increase of more than 40%. Advertising sales also saw strong growth, increasing to £17.5 million, up from £10.8 million in 2015 and driven by an increase in monthly active users which the company reported at 7.1 million, with 2.8 million paying subscribers.”

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