Spotify is profitable - in Sweden
Swedish marketing and media news site Dagensmedia.se has some interesting numbers on the economical performance of popular music streaming service Spotify in its home country Sweden.
According to the site, the total revenue of the Swedish Spotify branch (Spotify AB) was 90,3 million Swedish crowns in 2009, approximately 9,5 million Euro. In 2008 the startup generated 725.000 Swedish crowns in revenues, about 76.000 Euro. Last year the company reached an operating profit of 14 million Crowns, about 1,5 million Euro.
So in Sweden Spotify is profitable on an operational basis. On an international level though the company is still losing money, which was confirmed to Dagensmedia.se by one of the Spotify investors, namely Pär-Jörgen Pärson from Northzone Ventures.
The article says that Spotify's total revenue this year is expected to be somewhere around 350 million Swedish crows, almost 40 million Euro.
With about 500.000 subscribers paying about 100 Euro per year for Spotify Premium plus revenues from advertising that estimation does actually sound a bit too low.
