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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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Old Crow Medicine Show
Courtesy Photo

Old Crow Medicine Show

Music

Mariposa Folk Festival Widens Its Scope with 2024 Lineup

Created in 1961, the long-running Canadian folk/roots festival will present Old Crow Medicine Show, Bruce Cockburn, Band of Horses, Noah Cyrus, William Prince, Maestro Fresh Wes and more for this year's edition.

Canada's longest-lived and most arguably important folk music festival, the Mariposa Folk Festival, has announced its 2024 lineup. The event runs July 5 to 7 at Tudhope Park in Orillia, the Ontario town that first hosted the fest back in 1961.

It's a compelling and stylistically diverse lineup, headed by Old Crow Medicine Show, Bruce Cockburn, Bahamas, Band of Horses, Noah Cyrus, William Prince and Maestro Fresh Wes. That grouping includes both Canadian and American acts, and showcases a diversity of genres, with hip-hop, world music, classic rock, and pop-rock artists billed alongside more conventional folk/roots singer/songwriters. It also includes names like Amigo The Devil, Donovan Woods, Dwayne Gretzky and Jesse Cook.

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