London – Spotify, the European streaming music service
angling for a U.S. launch, reported a net loss of $26.5 million in 2009, with
revenues of about $18 million, Music Ally reported.
The company offers both a
free, advertising-supported version of its service, and a premium paid
subscription tier without ads.
Spotify said it generated about $7.2 million in
revenues in 2009 from advertising, and another $10.9 million from subscription
At the end of 2009, Spotify counted 250,000 paying subscribers out of a
total of 7 million users.