Published: Sun, April 08, 2018
Technology | By Russell Knight

Spotify Says Revenue Could Approach $6.8B This Year

Spotify Says Revenue Could Approach $6.8B This Year

As for premium users, it suggests between two to five-million users will pay for the service in Q1 2018, adding and a further 20-million by the end of the year.

That mean the Swedish music streaming service expects to take in between $6.1 billion and $6.8 billion.

Shares of Spotify Technology are set to begin trading on the New York Stock Exchange on April 3 in an unusual direct listing that gives insiders the option to sell instantly and does without the support of traditional underwriters - a recipe for potentially high volatility in early trading.

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Spotify's annual operating losses have been growing every year: €98m in 2013, €191m in 2014, €235m in 2015, €349m in 2016 and €378m in 2017.

Spotify revealed that 2 million free users, 1.3 % of its total user base, have been dodging ads through unauthorized apps. The number of paid subscribers should grow slightly faster, by 30-36 percent this year to 92-96 million. This is despite expecting to increase the number of paying subscribers from over 70m to over 92m worldwide this year.

Although they have since removed the users from these metrics, they "currently do not have, and may never have, the requisite data available to adjust such key performance indicators and other metrics prior to January 1, 2017".

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In terms of Monthly Active Users (MAUs), Spotify has forecast that it will finish 2018 with an audience of between 198m and 208m people - up 26%-32% year-on-year.

The music geeks at Spotify on Tuesday officially switched on access to the service for South Africans, giving the country yet another streaming music platform to complicate their lives. Still, Spotify isn't expecting to be profitable for the year, with the company noting that it will likely see an operating loss in the $286 million to $409 million range.

Its debut on the stock market will differ from the usual format, as the company will not issue any new shares.

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The gross margin for the first quarter is expected to grow to about 23-24% from 21% past year, and in 2018 to reach 23-25%.

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