Spotify UK revenues surge to almost £190m as mobile subscriptions take off
The article shows how the music app, Spotify, is booming in its market. This is through the subscriptions people are signed up to which can be accessed on a variety of devices like smartphones, tablets, consoles etc. It is the World's biggest music streaming service at the vakue of £6.9bn and its revenue in the UK has risen by 18% last year (from £159m to £187.2m). This was fuelled by a 44% surge in subscription revenues from £119m to £171m. In addition, the company believes this increase is due to people using mobile phones to stream music rather than computers and 2015 was there best year.
- 44% surge in subscriptions
- Subscription income accounts for over 90% of Spotify UK's total revenue
- Last year ad revenue fell from £11m to £10.8m
- 30 million songs on offer and charges £9.99 a month fir premium subscriptions
I believe Spotify is having a huge impact and making serious revenue because it is an app which allows people to play the music they like. It is a good replacement for CD's because a digital copy of a song means it can't get damaged, stolen, lost and has to be bought at a shop. Music from Spotfiy can instantly be used without many problems.
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