Music streaming giant Spotify reportedly lost $100 Million in 2010 and 2011 according to their own reports. Although that is a very large number, may it not be forgotten that the company is planning to expand into Canada, South America and Asia, a plan that should bring their profit numbers into a very acceptable margin.

Spotify CEO Daniel Ek also released a short statement about the company in the present time, which you can see below.

"The question of when we'll be profitable actually feels irrelevant. Our focus is all on growth. That is priority one, two, three, four and five. But of course we expect to make a profit in the long run."