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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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From left to right: Matthew Burnett, Jordan Evans and Daniel Caesar at Billboard Canada Managers to Watch 2026
Gabriel Di Sante

From left to right: Matthew Burnett, Jordan Evans and Daniel Caesar at Billboard Canada Managers to Watch 2026

Management

Daniel Caesar's Surprise Tribute to His Managers & More of the Best Moments From Billboard Canada Managers to Watch 2026

Caesar presented the Managers of the Year Award to his longtime managers Matthew Burnett and Jordan Evans as industry luminaries gathered to celebrate at Billboard Canada Managers to Watch x MMF Canada Honour Roll at SOUNDSTAGE at NXNE on June 11. Angine de Poitrine manager Sébastien Collin and Yungblud manager Tommas Arnby also received special awards.

The most influential managers from across the globe gathered at SOUNDSTAGE in Toronto on June 11 at NXNE to celebrate Billboard Canada Managers to Watch. The celebration spotlighted the people who put in the behind-the-scenes work to elevate artists across the country following the release of this year's coveted Managers to Watch list.

“If you want to get something done, call the manager,” said Billboard Canada national editor Richard Trapunski in his opening remarks. "You are the ones who are closest to the artists, the unsung heroes of the music industry. You have the vision and the tools to open doors and build careers, yet you are rarely in the spotlight yourselves."

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