The popularity of the music streaming platform Spotify, continues to rise as revenues grew to almost £240m in 2016, up 27% from 2015.
In July, Spotify announced that it had over 140 million active users globally and that 60 million of these users were paying monthly subscribers. Subscription revenue was certainly a driving force of this year’s growth with a 26% increase. Advertising revenue also reportedly increased by 62%, from £10.8 to £17.5 million.
