Spotify, one of the most popular music streaming services in Europe, is constantly attracting new members from the seven countries it currently supports. However, it seems that financially the company is not as prosperous as it might seem.
Spotify can only be enjoyed in Finland, France, Norway, Netherlands, Spain, Sweden and the United Kingdom, and this restriction means that inhabitants of other countries do not have access to it.
The consequence is that the sources of revenue are limited, and even though, according to a recently published
report, the company's revenue for UK for the past year was $ 18.1 million, it actually translates in a net loss of $26.7 million, because of all the expenses, sales and distribution.
In an attempt to minimize the significance of this financial report, a Spotify spokesperson said: “2009 saw us focus on establishing a new and innovative music service and bringing it to millions of people across
Europe.”
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