Representational Image. Facebook
Spotify expects revenue to grow by around 20 to 30 percent this year - and between 92 and 96 million paying subscribers - the company announced on Monday, in guidance issued ahead of its public listing on the New York Stock Exchange next week.
It expects total monthly active users in March to number 168-171 million, including those who use the service for free in return for watching advertisements, up from 157 million at the end of a year ago.
Spotify enjoys an advantage thanks to its free, ad-supported tier, which is unique among streaming services such as Apple Music, Amazon, Google and Tidal. The rest of the subscribers, about 86 million, are supposed to listen to advertisements in between listening to music. Well, according to their IPO filing, over 2 million users were doing it, accounting for over 2% of its free subscriber base. Premium services cost US$9.99 (AU$12.92) per month.
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The company also says it will continue to make a substantial loss, though it does expect this year to be the point at which its growing losses begin to decline.
The notification ends with a warning, "If we detect repeated use of unauthorized apps in violation of our terms, we reserve all rights, including suspending or terminating your account". A Spotify rep confirmed the notices to Variety.
The upper limit for total revenue for 2018 is set to be €5.3 billion (£4.63 billion), a year-on-year increase of 30%. Its operating loss was US$461 million (AU$596 million), compared with around US$425 million (AU$550 million) in 2016.
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