STOCKHOLM, June 15 Swedish music streaming
company Spotify's operating loss widened in 2016 but revenue
rose significantly, the company said in its annual financial
statement, ahead of a possible stock market listing before the
end of next year.
Spotify, which has been the subject of intense speculation
about a potential direct listing on the New York Stock Exchange,
made an operating loss of 349 million euros ($389 million) in
2016. That compared with a 236 million euro loss the previous
"This is explained by substantial investments that have been
made during the year, mostly in product development,
international expansion and a general increase in personnel,"
Spotify's Luxembourg-based holding company wrote in its
regulatory filing on Thursday.
Revenue rose to 2.93 billion euros from 1.93 billion euros.
Spotify could be floated within a year, a source familiar
with the matter told Reuters this month.
($1 = 0.8965 euros)
(Reporting by Johan Ahlander; Editing by Johannes Hellstrom and