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
International Financial Services Centre International Financial Services Centre The International Financial Services Centre (or IFSC) began in 1987 as a special economic zone on a derelict 11 hectare site near the centre of Dublin, with EU approval to apply a 10% corporate tax rate for designated financial services activities on the site. Before the expiry of this EU approval in 2005, the Irish Government legislated in 1998/99 to effectively "turn the entire country into an IFSC" by reducing the overall Irish corporate tax rate from 32% to 12.5% (full effect by 2003). The legal requirement for a specific IFSC geographic area was thus removed,