Summary:

Spotify’s 2009 UK accounts appeared at Companies House on Friday. They’re largely irrelevant now – not just because they’re nearly 12 months…

Spotify's Daniel Ek And Martin Lorentzon
photo: Spotify

Spotify’s 2009 UK accounts appeared at Companies House on Friday. They’re largely irrelevant now – not just because they’re nearly 12 months old, but also because Spotify, as we wrote when we covered its 2007/08 accounts, they’re not the whole picture: Spotify also operates from Sweden and other countries.

Regardless, the figures are an interesting snapshot in to the startup’s finances during its first full year of customer operation after initial R&D, the most interesting of which being the split between advertising and subscription income…

Item Amount

Ad sales

£4.51m

Subscriptions

£6.8m

Revenue

£11.32m

Cost of sales

-£18.82m

Gross loss

-£7.5m

Distribution costs

-£608,711

Administrative expenses

-£8.29m

Operating loss

-£16.4m

Finance costs

-£259,292

Loss for the year

-£16.66m

The company has since started limiting free, ad-supported playback and pushing its subscription service harder. 2009 was still a building and investing year for Spotify.

At last disclosed counts, Spotify had 10 million users and about 500,000 paying subscribers, though this is now likely to be higher.

zebra_table();

http://d1.scribdassets.com/ScribdViewer.swf?document_id=43629160&access_key=key-15610tw5bcd4rdaz5fht&page=1&viewMode=list&custom_logo_image_url=http%3A%2F%2Fi6.scribdassets.com%2Fpublic%2Fimages%2Fuploaded%2F74989381%2Fy5xfiJmQngHVaoZW1GT6.png

Comments have been disabled for this post