Free music streaming application Spotify has revealed its aim to file for an IPO in the long term.
Spotify has gained widespread UK media attention and is reported to have more than 500,000 users in the UK alone, but its revenues were as little as GBP82,000 in May 2009.
Spotify is a direct competitor of Deezer, which offers an online streaming service, vs. Spotify's app which has to be installed on the user's computer to stream music.
Spotify's revenue is based on a freemium model: free streaming with audio and visual ads embedded in the app, or paid monthly service with no ads.
Source: The Register
