advertisement
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”.

advertisement

advertisement
Music News Digest: CRTC Aims To Fill a Gap for Indigenous Radio in Toronto and Ottawa
Photo by Will Francis on Unsplash
FYI

Music News Digest: CRTC Aims To Fill a Gap for Indigenous Radio in Toronto and Ottawa

Also this week: Sled Island reveals initial lineup curated by clipping., Truro hosts Nova Scotia Music Week and more.

The CRTC recently launched a call for applications for FM radio stations to serve Indigenous communities in Toronto and Ottawa. Broadcast Dialogue reports "the call follows the demise of First Peoples Radio’s ELMNT FM stations, which went off the air on Sept. 1 last year. Launched in the fall of 2018, the stations had a goal to 'fill the gap' for urban Indigenous listeners under-represented in the radio landscape. They carried an 'Indigenous-variety' format, featuring both English and Indigenous-language spoken-word and musical programming, with 25% of the playlist dedicated to Indigenous talent.

In its call, the commission says in its view, "there is a need and a demand for radio stations to serve the needs and interests of those communities."

keep readingShow less
advertisement