Spotify is on track to finally turn a profit in 2017
Reuters conducted with Par-Jorgen Parson (member of the venture capital firm Northzone and initial investor of Spotify), things look hopeful for the company.Despite being present in more than 60 markets with their paying subscriber count now over 40 million, Spotify has continued to report profit losses every single quarter since its inception. Any money that's made by the company is immediately put towards paying off music licenses and working on expanding the service even more, but in a recent interview that
In the interview, Parson reiterated the point that Spotify has been continually focused on growing and expanding as much as possible. However, when asked as to whether or not Spotify would be able to turn a profit in 2017, Parson responded with, "Absolutely, yes." That's huge news for the company, and if Spotify really is able to make a profit next year, that should help the company continue to be the bigwig when it comes to music streaming.