March 26, 2018 6:30AM PT
Spotify Projects Slower Growth, 90 Million-Plus Subscribers by End of 2018
Spotify expects revenue to grow by around 20 to 30 percent this year — and between 92 and 96 million paying subscribers — the company announced on Monday, in guidance issued ahead of its public listing on the New York Stock Exchange next week.
The company, the world’s largest streaming service, said it expected 2018 revenue of 4.9 billion to 5.3 billion euros ($6.1 billion to $6.8 billion), although decline from 2017, when its revenue rose 39 percent. For the first quarter, the company said it expected revenue of 1.10 billion to 1.15 billion euros, up 22 to 27 percent.
The company still projects no clear path to profitability, but it has said multiple times that its strategy for this phase is growth over profit, which it expects ….. /.c-widget