Arab Today, arab today spotify triples losses owing to heavy investments
Last Updated : GMT 16:53:24
Arab Today, arab today
Arab Today, arab today

Reportedly to launch video streaming

Spotify triples losses owing to heavy investments

Arab Today, arab today

Arab Today, arab today Spotify triples losses owing to heavy investments

Spotify, the world leader in music streaming
Stockholm - Arab Today

Spotify, the world leader in music streaming, said Friday it had tripled its losses in 2014 owing to heavy investments, as media reported the group would soon begin streaming videos.

Created by Swedes in 2008, Spotify, which offers users a catalogue of "over 30 million tracks", has yet to turn an annual profit.

The net loss in 2014 amounted to 162.3 million euros ($182 million), compared to 55.9 million in 2013. The company's operating income was also negative, according to the Luxembourg-based holding company Spotify Technologies.

"This is explained by substantial investments that have been made during the year, mostly in product development, international expansion and general increase in personnel," the company said.

While sales topped the one billion euro mark, at 1.08 billion, the company's growth has begun to slow and was 45 percent last year compared to 74 percent in 2013 and 128 percent in 2012.

Spotify recalled that it had 60 million users in 2014, compared to 36 million at the end of 2013. Of those, three-quarters listened to the free service, which includes regular advertisement interruptions, while one-quarter paid for the premium subscription with no advertisements.

The company has users in 58 countries and in "10 of these countries, at least a tenth of Internet users use Spotify."

Meanwhile, the New York Times, Wall Street Journal and Financial Times reported that Spotify plans to launch video streaming services to rival YouTube on May 20 in New York, citing sources familiar with the company's plans.
Source: AFP

 

 

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spotify triples losses owing to heavy investments Arab Today, arab today spotify triples losses owing to heavy investments

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spotify triples losses owing to heavy investments Arab Today, arab today spotify triples losses owing to heavy investments

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Media: وسائل الإعلام أخبار
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday