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# Spotify Lost $59M In 2011, Projects $889M Revenue & More Losses In 2012
- URL: https://www.hypebot.com/spotify-lost-59m-in-2011-projects-889m-revenue-more-losses-in-2012/
- Published: 2012-04-13T08:24:00.000Z
- Updated: 2012-04-13T08:24:00.000Z
- Description: (UPDATED) Spotify co-founder and CEO Daniel EK says that 2012 revenues will top $889 million USD as the music streamer expands quickly into more territories. Ek also confirmed figures provided. Continue reading [https://www.hypebot.com/hypebot/2012/04/spotify-lost-59m-in-2011-projects-889m-revenue-
- Author: Bruce Houghton
- Tags: Streaming, music, Spotify, technology, #wp, #wp-post, #Import 2026-01-21 10:49

[![image from www.google.com](http://hypebot.typepad.com/.a/6a00d83451b36c69e20168ea0c0318970c-150wi "image from www.google.com")](http://hypebot.typepad.com/.a/6a00d83451b36c69e20168ea0c0318970c-popup?ref=hypebot.com)

(UPDATED) **Spotify** co-founder and CEO **Daniel EK** says that 2012 revenues will top $889 million USD as the music streamer expands quickly into more territories. Ek also confirmed figures provided by Swedish business daily Dagens Industri that Spotify sales grew 160% to $236.4 million USD last year and accumulated a net loss of $59.4 million or 25% of total revenue.

Spotify has more than 10 million active users and 3 million paying subscribers, but expects to continue to loose more money this year. "**Our focus is all on growth**," according [to Ek](http://www.reuters.com/article/2012/04/13/spotify-revenues-idUSL6E8FD0FE20120413?ref=hypebot.com). "That is priority one, two, three, four and five. But of course we expect to make a profit in the long run," he was quoted as saying.

**No Spotify IPO On The Horizon**

Despite confirmed reports that Spotify is **on the hunt for up to $200 million** in new funding, EK insisted that the company has no immediate need for cash. And don't expect a **Spotify IPO** any time soon. "We want to build this company over the long term. Therefore the stock market is not an alternative for us," EK said.