Spotify pays out $260 million, expands into Germany

Spotify has paid approximately USD$262 million in revenue to labels and publishers worldwide this year. That’s up from a reported $150 million of payouts since launching three years ago.

As the third highest paid music market in the world, Germany will be the 13th country to launch Spotify, which offers 16 million tracks to more than 10 million active users, and 3 million paying subscribers across Europe and the US. According the IFPI (that’s International Federation of the Phonographic Industry) , Spotify is the second largest source of digital music revenue for labels in Europe and, by launching into one of the world’s largest music territories, is about to get bigger.