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
Spotify December 2016, Drake's just-under 26 million monthly listeners were overtaken by the Weeknd's 36.068 million. Later that month, Drake's song "One Dance" became the first song to hit one billion streams on Spotify. Upon its release in August 2017, the single "Look What You Made Me Do" by Taylor Swift earned over eight million streams within 24 hours, breaking the record for the most single-day streams for a track. On June 19, 2018, XXXTentacion's hit single "Sad!" broke Swift's single-day streaming record, amassing 10.4 million streams the day after he was fatally shot in Florida. In March 2011, Spotify announced