Job cuts add to costs for streaming service but it gains 10 million premium subscribers in fourth quarter
Spotify’s push beyond music has tipped the streaming service into the red again, after it acquired the rights to 200,000 audiobooks for premium subscribers, with Prince Harry’s autobiography and comedian David Mitchell’s Unruly proving to be among the most popular with listeners.
The world’s biggest music streaming service, which has been offering 15 hours of free audiobook listening a month to premium subscribers in the UK, Australia and the US since October, said related start-up costs contributed to a €75m operating loss in the fourth quarter.
Continue reading…Job cuts add to costs for streaming service but it gains 10 million premium subscribers in fourth quarterSpotify’s push beyond music has tipped the streaming service into the red again, after it acquired the rights to 200,000 audiobooks for premium subscribers, with Prince Harry’s autobiography and comedian David Mitchell’s Unruly proving to be among the most popular with listeners.The world’s biggest music streaming service, which has been offering 15 hours of free audiobook listening a month to premium subscribers in the UK, Australia and the US since October, said related start-up costs contributed to a €75m operating loss in the fourth quarter. Continue reading…