Spotify on song as UK revenue rises to £237m

Music streaming service continues to boom ahead of expected IPO, as subscription income rises by 26%

Revenues at Spotify's UK business soared to almost 240m last year, as the popularity of the music streaming service continues to boom ahead of the expected stock market listing of the Stockholm-based company.

Total UK revenues at Spotify, which is expected to go public later this year or early in 2018 with a valuation of as much as $20bn (15bn), rose by 27% to 237m last year. The main driver was a 26% growth in subscription revenues to 215m.