Despite passing 100 million paid subscribers worldwide in the March quarter, a 32 per cent increase year-on-year, Spotify is forecasting losses up to $596 million in 2019 as it continues to prioritise growth. However, that will probably prove a black blip in a continuing tide of red. The ANZ business lost $196,445 after tax in 2018, just as its New York-listed parent was recording its first profitable quarter in December, after 13 years of operation. The discrepancy was due to the impact of introducing the AASB 15 accounting standard for recognising revenue from contracts, according to a spokesperson. Premium subscriber revenue was $1.9 million, down from $8.4 million in 2017.
Karen Lawson, former CEO of corporate-sponsored start-up accelerator Slingshot, will run Spotify Australia. Last month, Tekashi 6ix9ine was involved in a dispute at an. The identity of the hacker, or hackers, has not been revealed. Lawson will have a remit to grow the $24.9 million in revenue which Spotify ANZ made from ads on its free tier in calendar 2018, up only slightly from $24.3 million in 2017, according to documents lodged with the corporate regulator. The Spotify page has since been reverted back to is original state. Huxley left in February to run the music streamer’s European business from London. Karen Lawson, chief of corporate-sponsored start-up accelerator Slingshot, will replace Jane Huxley as managing director of Spotify Australia & New Zealand.
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