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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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Jane McGarrigle with sisters Anna and Kate
FamGroup

Jane McGarrigle with sisters Anna and Kate

FYI

Obituaries: Remembering Artist Manager/Musician Jane McGarrigle, Singer Marianne Faithfull

This week we also acknowledge the passing of pedal steel pioneer Susan Alcorn and American publishing executive Ben Vaughn.

(Laury) Jane McGarrigle, a Canadian songwriter, musician, music publisher, artist manager and author who worked extensively with her sisters, folk legends Kate & Anna McGarrigle, died on Jan. 24, at age 84, of ovarian cancer.

A Celebrity Access obituary notes that "Jane McGarrigle began her career in music when she was just 14 after she was recruited by nuns to play organ at l’Église de Saint-Sauveur-des-Monts, a historic Catholic church in Saint-Sauveur, Quebec, Canada.

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