HSH10010
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The full PrivCo report, which links to the full Spotify financials (which look pretty ugly):http://www.privco.com/alert-privco-exclusive-spotifys-just-closed-full-year-financials-obtained-by-privco-reveal-rapid-revenue-growth-unsustainable-business-model-revenues-up-151-to-244m-yet-cost-of-sales-up-98-and-losses-ballooned-60-to-59m-somethings-gotta-change-soon-on-spo
From the privco #s (now confirmed as "totally accurate" by spotify to CNET), Spotify is spending 98 cents of every dollar of revenue just to pay music royalties. You can't sustain a business spending 98 cents out of every dollar on "Cost of Goods Sold", leaving 2 cents on the dollar to cover ALL staffing, marketing, admin, tech, etc etc etc. It's called math. It doesn't work.
The full PrivCo report, which links to the full Spotify financials (which look pretty ugly):http://www.privco.com/alert-privco-exclusive-spotifys-just-closed-full-year-financials-obtained-by-privco-reveal-rapid-revenue-growth-unsustainable-business-model-revenues-up-151-to-244m-yet-cost-of-sales-up-98-and-losses-ballooned-60-to-59m-somethings-gotta-change-soon-on-spo From the privco #s (now confirmed as "totally accurate" by spotify to CNET), Spotify is spending 98 cents of every dollar of revenue just to pay music royalties. You can't sustain a business spending 98 cents out of every dollar on "Cost of Goods Sold", leaving 2 cents on the dollar to cover ALL staffing, marketing, admin, tech, etc etc etc. It's called math. It doesn't work.