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REPORT: 40% REVENUE GAIN AT SPOTIFY

Spotify’s revenue in the first half of the year hit $2.2 billion and is on pace to hit $4.5b this year, growing 40% over 2016, according to a report at The Information.

Gross margins are 22%, up from 15% in 2016 but the company is still reporting a loss of between $118.4m and $236.8m, The Information reported based on individuals who shared data Spotify supplied investors. The belief, and this is what is making investors bullish on the company, is that recently struck deals with major music labels may help Spotify.

As reported before, the company has grown to about $16b in value.

 

 

 

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