Yes, this is the news that Spotify lost a great deal of money in 2013. Millions of euros, 57.8 of them, in fact – this is after their operating loss grew 16.4% to €93.1m. On the surface this could seem like a really terrible thing.

Especially when you also take into consideration that their 2013 revenue was 73.6% up on 2012, totalling €746.9 million. Why did they lost money whilst making more of it at the same time?

It's the cost of exponential growth innit – they increased the number of markets they operate in from 17 to 55 last year, spending more than double in 2013 than they did in 2012 on sales and marketing.

See the above image for like, all your financial answers with regards to Spotify.

It could seem bad, but in a letter to shareholders reporting these figures, the Spotify management team saw it a little differently:

"We have already proven that we've created real value for our users, and we know that the more time people spend with our product, the more likely they are to become paying subscribers. We believe that we will generate substantial revenues as our reach expands, and that, at scale, our margins will improve."

As you can see, they remain confident.

But streaming's a big deal now. YouTube Music Key and iTunes' eventual foray into the market might provide some pretty rock solid competition.

Especially when you take into consideration that Spotify don't see their per-stream royalty payouts budging upwards anytime soon.