Spotify rakes 140M monthly users, still in loss

Spotify now has 140 million active users

That's a 50 percent jump in revenue year-over-year.

Spotify is by far the world's most popular subscription music streaming service, but that doesn't mean it's anywhere close to being profitable.

Spotify has today announced that it has over 140 million "active" users in a blog post published on the company's website. In fact, the only number they have't updated was their number of paid subscribers, which was last reported at 50 million.

Music Ally contacted Spotify to ask about sponsored songs, and the company's spokesperson provided this response: "We are always testing new ways of putting the right music in front of the right audiences". Since users are not buying albums most of the time, these days, this is how artists get paid for making music.

Man dies in Niagara Falls after surviving 2003 plunge
He was also and ordered to reimburse the Journey Behind the Falls attraction $1,408 for money lost while closed during the rescue. In the interim, he said, he hoped more people would come visit the area as a result of the publicity afforded his wife's stunt.

As part of its deals, Spotify has committed to at least €2 billion in royalty payments over the next two years.

Though the majority of Spotify users listen for free, paying subscribers accounted for about 90 per cent of the company's sales.

Spotify is still negotiating new long-term deals with the other two major labels, Warner Music Group and Sony Music Entertainment, which will add to that sum. Notes Recode: "Spotify doesn't spell out who that money is going to ..."

Most recently valued at $13 billion (roughly Rs. 83,810 crores), Spotify could be floated within a year, a separate source told Reuters this month. It is apparently weighing a direct listing, a way to list a company on a stock exchange without issuing new shares to the public.

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