Computer Algorithms and Goldman Sachs Abu Dhabi

: Read more: Apple Beats Music streaming plans The music business turns to computer algorithms If the deal with investors including Goldman Sachs and Abu Dhabi sovereign wealth fund goes through, Spotify will become one of the highest valued private tech companies in the world, despite the fact that it is still struggling to make money, according to The Independent. Business news in pictures Spotify pays 70 per cent of its revenue to rights holders as royalties and not all users pay to stream. Forecasts show that this is up to 6.5 times its revenue, which analysts said was around $1.3 billion in 2014. Only 15 million users pay $9.99 to get unlimited ad-free streaming, compared to 45 million that use the service for free but get hit with adverts, according to the Wall Street Journal. They have reportedly put pressure on for Spotify to increase its proportion of fee-paying customers, believing adverts alone will not generate enough revenue to make up for lower sales of CDs and downloads. Big record labels Sony, Warner and Universal own under 15 per cent of Spotify. (news.financializer.com). As reported in the news.