'Best Year Ever' for Spotify despite $195 million loss

Spotify saw revenues reach $2.2bn over the past year but the Swedish music streaming platform has still not made a profit– posting a net loss of $194 million Most of its expenses were in the form of royalties paid to artists Spotify said that by the end of last year it had 89 million active monthly users, of which 28 million were paying for subscriptions, up from 60 million total active users at the end of 2014