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Spotify has turned a profit in France, five years after its launch there.
The streaming music service earned a net profit of close to $400,000 (€311.426) in France on revenues of $23.5 million (€18.75 million) in 2013. France was among the first territories where Spotify went live, along with Scandinavia, the U.K. and Spain, in October 2008.
The French success, first reported in L’Express, follows a similar performance in the U.K., where Spotify moved from a $17 million (£11 million) net loss in 2012 to a $4 million (£2.6 million) profit last year.
In both cases, the company has been successful in getting a significant number of users to switch away from its ad-backed free option to its paid subscription service. According to the company’s own figures, Spotify now has some 12.5 million paying subscribers worldwide out of its 50 million active users.
Read More Spotify’s Plans for 50 Million Homes
The Swedish/British company has been sharply criticized by many, including Taylor Swift and Radiohead’s Thom Yorke, who have pulled their music from Spotify, saying it does not properly compensate artists.
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