With Spotify launching in Germany today, it’s no surprise to see local streaming music service Simfy pre-empting the news with its own announcement. Simfy now has 2m users, according to its press statement, which also predicts revenues “well into the double digit millions” this year. “Our strong growth has translated into more than 2 million users and a very healthy percentage of it is paying premium users – showing us that we have achieved very good performance in our core markets,” says CEO Gerrit Schumann. “Reaching profitability is difficult in any music business and we are well on our way to achieving that in the next quarter.” The statement also suggests that while Simfy is not currently seeking new funding, “a larger capital increase may be decided on in the second half of the year to fuel further expansion”. That expansion will come in the next month with a launch in a non-European country, building on Simfy’s current services in Germany, Austria, Belgium and Switzerland. The company is also working on beefing up its recommendations.

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