The figures, published in Swedish newspaper Dagens Industri, were confirmed by the streaming music service's CEO Daniel Ek who went on to predict that revenue for the company in 2012 could reach $887m.

Ek also made it clear that he is more focused on growth than profit saying, "The question of when we'll show a profit actualy feels irrelevant. Our focus is entirely on growth. It is priority one, two, three, four and five."

To that end, reports suggest that ...