Spotify on song as UK revenue rises to £237m

Music streaming service continues to boom ahead of expected IPO, as subscription income rises by 26%

Revenues at Spotify’s UK business soared to almost £240m last year, as the popularity of the music streaming service continues to boom ahead of the expected stock market listing of the Stockholm-based company.

Total UK revenues at Spotify, which is expected to go public later this year or early in 2018 with a valuation of as much as $20bn (£15bn), rose by 27% to £237m last year. The main driver was a 26% growth in subscription revenues to £215m.

Related: Spotify hopes going public will cement streaming as music's future

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