Spotify hasn’t yet filed its financial results for 2017, but a report on tech-news site The Information claims to have the skinny on the streaming service’s Q3 2017.

“Spotify generated a billion euros ($1.2bn) in revenue in the third quarter of 2017, according to two investors briefed on the numbers,” claimed the article. “That puts it on track for full year revenue of more than four billion euros, up about 40% from 2016.”

There’s a but coming, though.

“Where Spotify may not be improving as quickly is on its bottom line. The company had an operating loss of between 70 million and 90 million euros in the third quarter, according to the investors,” it continued. “That suggests the full year operating losses will top 300 million euros, as they did the previous year.”

While The Information suggests this may be a concern for investors as Spotify goes public, the latest financials from Snap, Inc (a net loss of $350m in the final quarter of 2017 alone, but shares up 25% because of user growth) paints a more complex picture.

In any case, with Spotify’s anticipated direct public listing thought to be imminent, we’ll get a more detailed insight into the company’s recent financial metrics soon.

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