Spotify UK revenues surge to almost £190m as mobile subscriptions take off
Summary: This article explains how Spotify has increased their revenue from the past year. Revenues at Spotify’s UK business grew to almost £190m last year as subscription income soared by over 40% by music fans increasing to the company's mobile service. This is because many viewers are moving from desktop to mobile as the majority new users are signing up for Spotify through their mobiles. Spotify offers their viewers up to 30m songs and charges them a fee of £9.99 per month for its premium subscription. The company's staff bill grew from £12.3m to £13.7m - the highest paid director received £151,000.
- World’s biggest music streaming service saw total UK revenues rise by 18% from £159m to £187.2m last year
- Subscription income accounts for over 90% of Spotify UK’s total revenues, the remainder comes from advertising.
- Last year, ad revenue fell slightly from £11m to £10.8m.
- The streaming service has 100 million users worldwide, of which 40 million are paying subscribers.
My opinion: As a user of Spotify i can understand why their revenues have increased so much over the past year. The services and the range of songs they provide their audience for the amount of money the audiences have to pay it, is a benefit and can be the reason why so many users sign up to this particular music streaming service. The fact that viewers can access their spotify playlist or go on the application through desktop and also mobile phones gives the audience the access they want with their music. Spotify understands their target audience and because they are making sure they are appealing to them, they are increasing in revenue.
No comments:
Post a Comment