According to the report, revenues reached 18.75 million euros in 2013, up from 11.48 million in 2012. With this growth, Spotify France posted a net profit of over 311,000 euros last year, the first time company has turned a profit since launching there in 2010.
A Spotify France spokesperson told L’Express that the company saw a 76 percent increase in premium subscribers. The fast-growing service has inched up to 35 percent of the French streaming market, up from 21.6 percent in 2012.
A request for comment from Spotify on the revenue report was not immediately returned.
Across the English Channel, Spotify UK recently announced that it too had turned a profit for the first time. The company reported that revenues rose 41 percent from £92.6m in 2012 to £131.4m in 2013, resulting in a net profit of £2.6m.
Article Appeared @http://www.billboard.com/articles/business/6320047/spotify-france-profit-2013