SPOTIFY SPREADS OUT IN NEW U.K. DIGS

Spotify is indeed moving into a swanky new London office, as previously rumored, and plans to double its workforce over the next two years. The space is located in upmarket Westminster and overlooks the River Thames.

Jobs will initially focus on engineering, machine learning and data, followed by design and research, according to a Bloomberg report. The rental cost of its new space in the heart of London is over £5m a year, and it's reportedly five times the size of its current 20k square foot office in Oxford Circus.

From 2015 and 2016, the tech firm increased its revenue in Blighty by 27% to £237.8m from £187.2m the year prior thanks to rising subscription revenue, according to accounts filed at Companies House. Profits after tax stood at £1.9m—up from 2015’s £1.2m. Paid subscribers rose from 1.7m to 2.8m during that time while MAUs were up to 7.1m from 5.3m.