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First win for Spotify – confirms the purchase of two companies

the music service Spotify reported an operating prot for the fourth quarter, eur 94 million, nearly a billion dollars. During the corresponding period of the pr

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First win for Spotify – confirms the purchase of two companies

the music service Spotify reported an operating prot for the fourth quarter, eur 94 million, nearly a billion dollars. During the corresponding period of the previous year, the company made a loss of € 87 million. Snittprognosen among analysts was a loss of 17 million euros, according to SEB.

In the company's own prospects, there was talk about an operating profit in the fourth quarter in the range of 15 million euros to -35 million euros.

At the end of the period, the number of monthly subscribers to 207 million, compared with 160 million at the same time a year earlier.

the so-called premium users, which accounts for the biggest part of Spotify's revenue, increased to 96 million, from 71 million a year earlier. According to the company, it is mainly a result of a successful marketing campaign with Google Home as well as the annual campaign in conjunction with the public holidays at christmas and the end of the year.

During the quarter, widened the Spotify its market into 78 countries, from the previous 65 and with the advent of the Middle east and north Africa.

In 2019, expect Spotify to the number of monthly users increasing 18-28 per cent in annual terms to 245-265 million people. The number of paying subscribers is expected to increase by 21-37 per cent to 117-127 million people.

21-29% to 6,35–6,80 billion, with a gross margin of 22-25%. And operating income is expected to drive a loss of 200-360 million.

Spotify has also made up to buy podcast producer, Gimlet Media and podcast platform Anchor, according to a separate press release in connection with the financial statements.

Spotify, who do not want to provide any financial details about the deal, with the acquisition of a world leader podcast producer and owner of a heavy platform for the podcast creator.

”We are proud to be able to welcome the Gimlet and the Anchor to the Spotify team and we look forward to what we can accomplish together,” writes the Spotify-chief and co-founder Daniel Ek in a comment.

the Company's share was listed in april on the New York stock exchange. The share is currently trading for around $ 140 per share.

Read also: Spotify is betting on the Middle east and Africa

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