Printed from http://www.electronista.com

Spotify eyes launch in Canada, Asia, South America

updated 10:40 am EDT, Wed August 22, 2012

Financial results show wider losses, higher revenues

Spotify is set to expand its streaming service to Canada, along with plans to open up in Asia and South America. Recently published annual accounts found by the Wall Street Journal included a management report dated April 23, detailing that the expansion into the Canadian market was always planned while hinting at moves in other continents, although not mentioning which specific countries.

Subsidiaries in Canada, Singapore and Hong Kong were established by the company last year, although none of those countries currently have the service available. Spotify currently operates in 15 countries, the latest of which to join the list were Australia and New Zealand back in May. After initially operating in Europe, the company launched in the US in July last year, despite claimed interference from Apple.

The financial results also show the company widening its net loss in 2011 to 45.4 million ($56.6 million) from the previous year, although revenues increased to 187.8 million ($234 million) for the period. At the end of the year, Spotify had 32.8 million registered users, and it was claimed in June that Spotify was the number two revenue source for the major music labels.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Logitech Hyperion Fury mouse

Selecting the correct gaming mouse comes down to finding a device that balances the needs of a user with a price they can afford. Ofte ...

Life n Soul BM211 Bluetooth speaker

Bluetooth speakers aren't only for listening to some music at the park or on a long bus ride, but can also be built with tablets in mi ...

Epson PowerLite Home Cinema 2030 projector

With high-definition televisions now the standard, 4K televisions becoming the next big thing, and plasma TVs going the way of the din ...

Sponsor

toggle

Most Commented

 
toggle

Popular News