Let’s Do The Time Warp: Spotify’s 2009 Accounts

Spotify’s 2009 UK accounts appeared at Companies House on Friday. They’re largely irrelevant now – not just because they’re nearly 12 months old, but also because Spotify, as we wrote when we covered its 2007/08 accounts, they’re not the whole picture: Spotify also operates from Sweden and other countries.

Regardless, the figures are an interesting snapshot in to the startup’s finances during its first full year of customer operation after initial R&D, the most interesting of which being the split between advertising and subscription income…

Item Amount

Ad sales






Cost of sales


Gross loss


Distribution costs


Administrative expenses


Operating loss


Finance costs


Loss for the year


The company has since started limiting free, ad-supported playback and pushing its subscription service harder. 2009 was still a building and investing year for Spotify.

At last disclosed counts, Spotify had 10 million users and about 500,000 paying subscribers, though this is now likely to be higher.