Would you believe us if we told you that the streaming behemoth Spotify was not a profitable company? Well up until last year, they weren't.
Spotify's UK business turned a profit for the first time last year according to the company's latest set of financials.
FACT reports that “Spotify Ltd recorded an £11 million net loss in 2012, but in 2013 that became a £2.6 million net profit, with the company’s revenues climbing from £92.6m in 2012 to £131.4m last year.”