Spotify is about to try to become a podcasting giant with two new acquisitions — and we have some suggestions for that — but first, it’s crossing an important milestone with its music streaming business. Today, for the very first time, the company is reporting that it’s turned a profit.
That’s right: some 13 years and 96 million paid subscribers later, Spotify is finally making money. Unless you count that one time a complicated tax situation technically threw it into the black.
“[F]or the first time in company history, Operating Income, Net Income, and Free Cash Flow were all positive,” reads a portion of Spotify’s financial announcement this morning. Specifically, the company made an operating profit of €94 million, or about $107...
from The Verge - All Posts http://bit.ly/2HWRuRK
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