Despite $889M In Revenue This Year, No IPO In Spotify’s Cards, But Ek Wouldn’t Say No To More Funding

Spotify's storming of the U.S. market last year has seen the company rack up a total of 10 million active users of its music streaming services. It is projected to have revenues of $889 million this year, up 160 percent on 2011. But with that growth also comes increasing net losses, which in 2011 doubled to the tune of around $60 million. Daniel Ek, CEO of the music streaming company, says in a candid interview with the Swedish financial paper Dagens Industri (translation here) that the question of when Spotify will show a profit is currently irrelevant. "Our focus is entirely on growth," he told the publication. "That is priority one, two, three, four and five."

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