Spotify's 2015 revenue surges beyond $2 billion, but still no profit
Increasing numbers of us are willing to shell out $10 per month for the streaming music service that's expanding into video, too.
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Nearly 90 percent of the company's revenue comes from subscriptions.
Spotify's pioneering streaming-music business, now emulated by the likes of Google and Apple, pulled in revenue of 1.95 billion euros ($2.18 billion) in 2015, a healthy 81 percent over the $1.21 billion the Swedish company garnered the year before.
But according to the figures, released in a regulatory filing and published by the Wall Street Journal and Music Business Worldwide, the company remains unprofitable. Its loss widened from about $181 million to $193 million.
The vast majority of the revenue -- 89 percent -- came from subscriptions. In March, Chief Executive Daniel Ek said Spotify had 30 million music subscribers, and it's adding video services, too. Most people pay about $10, £10 or AU$12 per month to stream the music to computers and phones, but the company cut the price of its family plan to $15, £15 or AU$18 per month on Monday. The company also offers a free but ad-supported service and a cheaper tier for those who don't want the service on their phones.
Spotify didn't immediately respond to a request for comment.