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FYI

Spotify Turns A Corner With First Ever Profit

Spotify finished 2018 with 96M paying subscribers around the world, up by 25M year-on-year.

That wasn’t the biggest news in Spotify’s freshly announced financials for Q4 2018, though.

Spotify Turns A Corner With First Ever Profit

By External Source

Spotify finished 2018 with 96M paying subscribers around the world, up by 25M year-on-year.


That wasn’t the biggest news in Spotify’s freshly announced financials for Q4 2018, though.

The company posted its first ever quarterly operating profit (€94m) in the final three months of last year, driven by lower operating costs (-17% YoY). The firm, which posted a €442m net profit in the quarter – thanks to €387m of finance-related income – said that “movements in our share price in Q4 had a [positive] sizeable impact on our reported results” but that “the business would have been profitable regardless”.

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Alanis Morissette
Shervin Lainez

Alanis Morissette

Concerts

Alanis Morissette to Headline Prince Edward Island's Sommo Festival & More Canadian Concert News

The Canadian icon will join Hozier at the P.E.I. music and culinary festival this September. Vancouver dance festival Insomnia has also announced its 2025 lineup, and Lynyrd Skynyrd and Billy Idol plot Canadian tour dates.

P.E.I. will be getting a dose of Alanis Morissette this fall as she celebrates Jagged Little Pill's 30th anniversary.

The Canadian icon is set to headline Sommo Festival's Saturday night. The annual event is celebrating its third edition in the coastal community of Cavendish in Prince Edward Island on September 13 and 14. Irish singer-songwriter Hozier will headline the second night.

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