Spotify Plots Path to Profit with Machine Learning Tactics

STOCKHOLM (Reuters) – Spotify is a household name, with more paying users than any other music-streaming service in the world. But it doesn't make a penny. Those 30 million paid subscribers help it rake in almost half the revenues in the global industry. But most of the money goes to record labels and artists, while the privately owned Swedish company faces growing competition from Apple with its deep pockets and massive iPhone user base. To reduce its dependence on labels and stand apart from rivals, Spotify is broadening beyond its music library.