Spotify will lose between $ 228 and $ 410 million this year.
Spotify continues to be the most popular and lucrative music streaming service on the planet. Although that does not mean it's a big deal.
At least that's what your newer one seems to suggest financial results report. Where they closed the fiscal year 2018 on a grand scale. With an increase in 11% in premium users; in this way, they accumulate more than 96 million people pay for the service.
Thanks to this Spotify reports operating income of US $ 107 million. A year ago, the company lost almost the same amount in its last quarter.
At the close, the picture seemed much more positive. Profits rose 30% and left losses behind US $ 679 million that they registered at the end of 2017.
However, the company anticipated that a complicated 2019 with losses awaits. All due to competition in the industry and the need to invest more.
In its estimates, the company estimates that this year will losses between $ 228 million and $ 410 million.
One of the most likely reasons for this decline would be the company's recent acquisition of podcasts. Gimlet Media it's from Anchor
The exact amount for which these transactions were made was not disclosed. But the announcement of the future setback seems to suggest that there was a lot of money involved.