POLL: Will Spotify's business model be profitable in the long-term?
Spotify’s business model is getting stronger despite net losses that widened in 2012, according to its CEO Daniel Ek.
Since launching in 2008, the streaming service now boasts 20 million songs and 24 million users, a quarter of whom pay about $10 a month for extra features, such as listening on mobile devices.
The Swedish company's revenue more than doubled to €434.7 million ($576.4 million) in 2012, but its losses widened to €58.7 million - mainly due to big ...
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