Spotify a November 2012 report suggested strong momentum for the company. In 2011, it reported a near US$60 million net loss from revenue of $244 million, while it was expected to generate a net loss of $40 million from revenue of $500 million in 2012. Another source of income was music purchases from within the app. This service was removed in January 2013. In May 2016, Spotify announced "Sponsored Playlists", a monetisation opportunity in which brands are able to specify the audiences they have in mind, with Spotify matching the marketer with suitable music in a playlist. That September, Spotify announced
Rdio and the aggregators BFM Digital, Catapult, CD Baby, Finetunes, INgrooves, and The Orchard. Rdio also offered social networking features, such as the ability to share songs, albums, and playlists with others on Rdio and social networks such as Facebook and Twitter. On November 16, 2015, Rdio filed for chapter 11 bankruptcy in which they had to pay $200 million and announced the sale of certain intellectual property to Pandora Radio. The purchase price is $75 million in cash. Rdio was launched by Skype Technologies founders Niklas Zennström and Janus Friis on August 3, 2010. At the time they had to