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
Fortune Brands wine operations for $885 million USD, a transaction that added of vineyards, several major brands such as Clos du Bois, and 2.6 million cases per year of "super-premium" class wine production. After the other product lines were sold and spun off, the remaining spirits business became Beam Inc.. Fortune Brands Fortune Brands was a holding company founded in 1969 as American Brands and later renamed in 1997 and split apart in 2011. The corporate headquarters was in Deerfield, Illinois, in the United States. The company historically had a significant diversity of products. It announced on December 8, 2010, that it