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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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L-R: Ella Rubin as Annie and Bo Bragason as Oona in 'Sterling Point.'
Amazon Prime Video

L-R: Ella Rubin as Annie and Bo Bragason as Oona in 'Sterling Point.'

Tv Film

How Director Megan Park Built Canadian Music Into the DNA of Prime Video Sensation ‘Sterling Point’

The Muskoka-set TV show features shoutouts to Sarah McLachlan and Jann Arden, plus needle drops from rising stars like Lennon Stella and Mikayla Geier alongside hit Gen-Z artists Olivia Rodrigo and Gracie Abrams.

Sterling Point has all the ingredients of a popular teen drama: young love, self-discovery, heartfelt friendship, secrets and complicated family dynamics. Most importantly, the much-talked-about Prime Video series has a captivating soundtrack — one influenced by its Muskoka, Ontario setting.

Exactly two weeks ago, the show started streaming, quickly becoming one of Prime Video’s most-watched shows, with the Muskoka setting playing a major factor. Though it’s an American production, Sterling Point fits in with shows like Heated Rivalry and movies like Mile End Kicks as part of a recent wave of Canadian screen hits.

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