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Spotify doing well as UK revenue rises to £237m

Written by  Oct 27, 2017

Revenues at Spotify’s UK business soared to almost £240m last year, as the popularity of the music streaming service continues to boom ahead of the expected stock market listing of the Stockholm-based company.

Total UK revenues at Spotify, which is expected to go public later this year or early in 2018 with a valuation of as much as $20bn (£15bn), rose by 27% to £237m last year. The main driver was a 26% growth in subscription revenues to £215m.

The company said in July that 60 million customers were paying for its premium service, which is advert-free and provides unlimited access to its music catalogue.

 

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