Spotify posted revenues of €1.5bn three months end to December


The tech streaming service Spotify reported a 36% year-on-year rise in revenues in their fourth quarter due to, 96m paid subscriptions, whilst ad supported revenue rose to €175m.

The tech firm posted for the first time a quarterly operating profit of €94m.

The Stockholm based tech firm said in a statement, “Results for the fourth quarter 2018 outperformed our expectations and, for the first time in company history, operating income, net income, and free cash flow were all positive.”

Spotify announced the strong results came, as they will purchase podcast networks, Gimlet and Anchor in a bid to boost their position, it is thought the Gimlet deal is worth $200m.