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Business News Digital
Spotify UK revenues up in 2014, but company heads back into loss
By Andy Malt | Published on Thursday 15 October 2015
Spotify UK saw its revenues grow by £27.4 million in 2014, though overall it reported a post-tax loss of £1.2 million, according to newly published figures.
Both advertising and subscription revenues grew – by £900,000 and £27.2 million respectively – bringing total revenues up to £159 million, from £131.4 million in 2013. However, a rise in the cost of sales, staff and admin pushed the UK-based division of the company back into loss, despite posting a £2.9 million profit in 2013.
Of course, financials from any one regional unit don’t necessarily tell us much about the wider Spotify business’s overall performance, as it’s hard to know what costs get charged where in any one year. Or, in the words of a Spotify spokesperson doing some spoking with Billboard: “Individual company reports are not necessarily a reflection of the whole company, one way or the other”.
