Spotify UK has posted details of its 2015 financial performance, revealing some key insights into its subscription reach on UK shores.
The company revealed that subscriptions were its most significant revenue stream for the year, accounting for 92% of its overall income and generating £171.7m – that would be the equivalent of approximately 1.43 million individual full-year subscribers to its premium, £9.99-per-month service. Of course, it's not quite that simple - many Spotify subscribers could be on its reduced student rate (currently £4.99-per-month) or its family plan (£14.99), or would have only subscribed for part of the year. The company has never disclosed its UK subscriber numbers, but this at least gives an indication of its scale and rapid growth.
Subscriptions in 2014, meanwhile, accounted for £119.16m, meaning the 2015 figures represent 44% year-on-year growth.
Total revenues for the year reached £187.19m, marking an increase of 18% on 2014 (£159.07m).
While the company accumulated profits of £1.25m for the year, its ad revenues slipped from £11.09m in 2014 to £10.85m in 2015 – a drop of 2%. In total, advertising revenues made up 5.8% of Spotify’s income in 2015.
However, outside of the UK, the company’s advertising revenues almost doubled in 2015.
Yesterday it was announced that Spotify chairman Martin Lorentzon had stepped down from his position, with co-founder Daniel Ek set to replace him.