Spotify is set to launch in Canada, and has possible further plans to expand into Asia and South America, according to the company's recently published annual accounts.

The account, from Spotify's holding company—Luxembourg-based entity Spotify Technologies SA, contains a management report, dated April 23 this year, where Spotify said a launch on the Canadian market is planned.

Spotify said this move will further consolidate its position as the world's largest music streaming service, adding that it may seek to expand ...