![]() ![]() Streaming accounted for just 10% of overall UK recorded music revenues in 2013 – just over £1bn – but Brown told Music Week that Spotify expects that proportion to rise to around one third in 2014. In 2013, streaming music services generated £103m of revenues in the UK according to figures from industry body the BPI, which said that British music fans streamed 7.4bn songs that year – double the total in 2012. The UK accounted for just over a quarter of Spotify's global revenues in 2012. The company's UK subsidiary published financial results for 2012 last November, when it generated £92.6m from British customers, including £64.8m from subscriptions and £9.1m from advertising. The UK is one of Spotify's biggest markets. ![]() ![]() The company has not updated those figures since, but music industry sources tell The Guardian that the company has been waiting to surpass 10m paying subscribers before announcing new stats – and that it may hit this milestone in the next few months. Spotify said in March 2013 that globally, it had 24m active users, including 6m paying subscribers. Streaming is growing so rapidly in the UK - we’ve got a perfect storm here," said Brown. "Organic subscribers are coming to us in their droves as a result of the publicity from those initiatives. The growth has been sparked by marketing partnerships with Vodafone and the Sunday Times. "Given that download sales are declining and Spotify is growing rapidly, particularly in the UK, it is only a matter of time before Spotify is bigger than iTunes across Europe as a whole."īrown added that a "significant amount" of the million new British Spotify users are paying for a subscription, rather than listening to its free, advertising-supported version. ![]()
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