Music streamer Spotify says sales and losses grew in 2013

STOCKHOLM (Reuters) - Online music streaming service Spotify's revenues rose 74 percent but operating loss widened last year due to expansion costs, its holding company reported. Stockholm-based Spotify, which provides free on-demand music or ad-free tunes for paying customers, posted an operating loss of 93 million euros ($116 million) (73.83 million pounds) from 2013, compared with a loss of 80 million euros in 2012. The company said the increased losses were due to investments in product development and international expansion. Its sales grew to 747 million euros ($932 million) in 2013 from 430 million euros a year earlier. About 91 percent of Spotify's revenue came from subscriptions, with the rest coming from advertising. The company earlier this month said its paying subscriber base has risen to 12.5 million from 10 million in May. Spotify was founded in 2006 by Daniel Ek and Martin Lorentzon. Its 2013 figures were published on Tuesday by its holding company Spotify Technology in Luxembourg's business registry. (Reporting by Johannes Hellstrom; Editing by Jussi Rosendahl)