Streaming Music: Spotify CEO Predicts $800 Million in Revenue This Year

  • In the two years it’s been up and running, streaming music service Spotify has accumulated $96 million in losses. However, CEO and founder Daniel Ek says the company is focusing on sales to turn that around.
  • “We know we are making money on each new user we get, whether it’s a free user or paying. Therefore, all user growth [is] positive for us,” Ek said, adding that he expects to see $800 million in revenue this year.
  • The big hits for the company came in expanding its reach to new markets, which requires extensive capital investment in local music rights.
  • Although Ek said the company is now in a position to operate without additional capital, Spotify could be accepting investments amounting to $4 billion.
  • “We utilize the principle that if an investor can add strategic value and the valuation is good, we are interested,” he said.

No Comments Yet

You can be the first to comment!

Leave a comment

You must be logged in to post a comment.