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Spotify goes into profit in France

By | Published on Friday 21 November 2014


Following the announcement last month that Spotify’s UK division had gone into profit, its French arm has apparently followed suit. Spotify reportedly now also holds one-third of the country’s streaming market, where it faces stronger competition from domestic service Deezer.

According to L’Express, Spotify France saw revenues increase by 66% in 2013 to 18.75 million euros, resulting in a 311,426 net profit for the year. A spokesperson for the streaming service also told the newspaper that its premium subscriptions were up 76% year-on-year.

While many will no doubt be pleased to hear that Spotify is going into profit in more territories, this news will also fuel the ire of critics who believe the company should be paying higher royalties to rights owners and artists. Though, of course, market-by-market figures don’t necessarily tell us much, because it’s hard to know what costs are incurred at a global rather than a country level; overall the business is still likely posting a sizable loss.