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Is Spotify going global?
Tuesday 13th November 2012 | David
The streaming service is planning massive expansion next year, having raked in huge revenue in the first half of 2012.
Good news for music lovers everywhere: the most recent round of funding for Spotify is set to come to a conclusion in the next few weeks, with the service close to gaining $100 million, at a stratospheric valuation of £3 billion. This is set to allow them to expand their service into Latin America and Europe, with Goldman Sachs among the several investors involved. Currently, Spotify is looking into markets in Mexico, Poland and possibly even Japan.
This follows the news that Spotify has made $200 million in total revenue over the course of the first six months of this year. This total is predicted to rise to a staggering £500 million by January, which is more than double the figures for last year. Further expansion, especially into Japan – where the company is in talks with record labels – would certainly garner even more interest, more paying subscribers and ultimately more money.
Can Spotify’s lesser known rivals keep up? Your move, Deezer and Playlister.
By Dave Rees
@DavidWRees
