Spotify U.K. Reports 312M Revenue, 7.1M Monthly Active Users in 2016
publish date: 2017-10-30
Subscription sales accounted for the bulk of the income, accounting for $285 million -- up from $227 million the previous year.
Sustained subscriber growth and a rise in advertising revenue helped Spotify's U.K. arm make significant gains in 2016.
According to the company's latest set of financial results, which cover the year ending Dec. 31, gross revenue climbed to £237 million (US$312 million), up from £187 million ($247 million) in 2015. Subscription sales accounted for the bulk of that total, accounting for £216 million ($285 million), up from £172 million ($227 million) the previous year.
Advertising sales also grew to £17.5 million ($23 million), up from £10.8 million ($14 million) -- fueled by an increase in monthly active users, which climbed to 7.1 million. Of that total, 2.8 million were paying subscribers, up from 1.7 million just 12 months previously.