IT&Software

Spotify Projects Slower Growth, 90 Million-Plus Subscribers by End of 2018

Spotify Projects Slower Growth, 90 Million-Plus Subscribers by End of 2018

The company was careful to point out this statement was "subject to substantial uncertainty"; however, going by the numbers, Spotify expects to have a great 2018, with greater revenue, more paid subscribers, improved margins, and reduced losses.

Essentially, it will just let anyone who holds its stock to start trading shares publicly on the New York Stock Exchange next week, without offering any new stock that would raise the company a bunch of fresh money.

Spotify's annual operating losses have been growing every year: €98m in 2013, €191m in 2014, €235m in 2015, €349m in 2016 and €378m in 2017.

Spotify Technology SA, a digital music, podcast, and video streaming service, has revealed that around 2 million of its users have been using modified versions of the Spotify app that block ads and allows the users' to stream unlimited, high-quality music for free, reports Reuters. Revenue grew by 39% in 2017, but the company expects this year's growth to be in the 20-30% range. The company has never operated at a profit. It is targeting 198 million to 208 million total active users by the end of the year.

Having surpassed competitors such as Apple (Apple Music) and Alphabet (Google Play Music), Spotify hold a significant portion of the worldwide music streaming market, which could appeal to potential investors.

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Legitimate Premium subscribers make up 71 million of those.

Based on Spotify's latest guidance, it appears that the company's onboarding strategy could well be working, albeit slowly in terms of its paid to free ratio.

"Spotify knows this and I'm sure has set their projections levels that are clearly achievable, and by no means a risky stretch", London said.

It expects a full-year operating loss of $284 million to $408 million.

Gross margins for the year and first quarter are expected to rise between 23-25 percent. However, this is well below its long-term target of 30-35%. The company goes out on the stock exchange without the direct support of traditional poems - a recipe for potential high volatility in early trading.


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