Spotify’s Paris-based French comapny turned a profit for the first time in 2013 – following in the footsteps of its British counterpart.
Although the profit was small, at just 311,000 euros, it came off the back of 18.75 million euros of revenue – representing a jump from 2012’s figure of 11.48 million euros.
There was a 76% increase in the number of premium subscribers in the year, according to Spotify France.
Having launched in France in 2010, Spotify now accounts for more than a third of the streaming market in the territory. Its market share reportedly grew to 35% in 2013, up from 21.6% the year before – still some way behind market leader Deezer.Music Business Worldwide
