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# Spotify Revenue Doubled Last Year To $577 Million
- URL: https://www.hypebot.com/spotify-revenue-doubled-last-year/
- Published: 2013-07-31T14:06:39.000Z
- Updated: 2013-07-31T14:06:39.000Z
- Description: (UPDATED) Documents filed by holding company Spotify Technology show that revenue more than doubled in 2012. The music streamer's revenue took in $577 million USD, as it doubled it's user. Continue reading [https://www.hypebot.com/hypebot/2013/07/spotify-revenue-doubled-last-year.html]
- Author: Bruce Houghton
- Tags: Music Business, Music Tech, Startups & Funding, Streaming, Accel Partners, Facebook, Germany, Kleiner Perkins Caufield & Byers, New Zealand, Reuters, Spotify, Twitter, #wp, #wp-post, #Import 2026-01-21 10:43

[![Spotify $](http://hypebot.typepad.com/.a/6a00d83451b36c69e20191048158c6970c-100wi "Spotify $")](http://hypebot.typepad.com/.a/6a00d83451b36c69e20191048158c6970c-popup?ref=hypebot.com)

(UPDATED) Documents filed by holding company Spotify Technology show that revenue more than doubled in 2012\. The music streamer's revenue took in $577 million USD, as it doubled it's user base and expanded into new markets. Spotify currently has about 20 million active users of which 5 million pay for a premium mobile and ad free subscription.   

Net losses also increased, but not as quickly as overall revenue. In a sign that offers hope for Spotify's future, 2012 losses were $77.4 million, up 32% from $58.8 million in 2011\. The company says it pays about 70% of revenue to rightsholders.

Spotify's growth came both through expansion into new markets including Ireland, Germany, Australia and New Zealand, and it's integration with Facebook. After [launching in mid-2011](https://www.hypebot.com/facebook-spotify-partner-on-new-streaming-music-service/), the Facebook music integration took off . By April of 2012, [17.5 million Facebook users](https://www.hypebot.com/facebook-175-million-people-use-spotify/) were using Spotify via the social network..

Northzone, Kleiner Perkins Caufield & Byers, Accel Partners and DST are Spotify's major investors, and all three major label groups are also stockholders. But the company does not rule out future fundraising, according to [Reuters](http://www.reuters.com/article/2013/07/31/us-spotify-results-idUSBRE96U0QZ20130731?ref=hypebot.com). "We cannot exclude the need or desire to raise more funds in the future to fund future growth initiatives," Spotify said in the Luxemborg filing.

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