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November 11, 2012 03:05 am GMT
Spotify, the streaming music startup, was having serious trouble paying its bills, if you believed reports from earlier this year. Its 2011 financials showed a loss of nearly $60 million on revenues of $244 million. But this information is out of date, because the company has had a relatively strong 2012.It made $200 million in total revenue over the first six months of 2012, and is on an annual run-rate that could put it around $500 million by January, according to industry sources. Despite another net loss this year, Spotify's business model -- free streaming music with ads, or $10 a month for additional features and no ads -- is going in the right direction.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/6VBAfICVXfs/
Spotify Is Having A Good 2012: Revenues Could Reach $500M As It Expands The Digital Music Market
Spotify, the streaming music startup, was having serious trouble paying its bills, if you believed reports from earlier this year. Its 2011 financials showed a loss of nearly $60 million on revenues of $244 million. But this information is out of date, because the company has had a relatively strong 2012.It made $200 million in total revenue over the first six months of 2012, and is on an annual run-rate that could put it around $500 million by January, according to industry sources. Despite another net loss this year, Spotify's business model -- free streaming music with ads, or $10 a month for additional features and no ads -- is going in the right direction.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/6VBAfICVXfs/
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