Latest available numbers, $4.99 billion in revenue for 2017, but with a loss of $1.5 billion for the year. As expected the highest cost is paying music publishe

Latest available numbers, $4.99 billion in revenue for 2017, but with a loss of $1.5 billion for the year. As expected the highest cost is paying music publishers. So while the revenue and user growth is tremendous, it's hard to see how they will turn a profit anytime soon because of how the deals are structured. Interesting to see the similarity but also the differences between Netflix and Spotify. Technically very similar in business model and their reliance on third parties, but Netflix has structured better deals and evolved beyond that, and the question now is will Spotify get into publishing itself, taking a page from Netflix?