Research firm PrivCo claims to have obtained Spotify’s full-year financials for 2011, and it isn’t easy reading. While Spotify registered an enormous revenue increase from 2010 to 2011, jumping 151 percent to $244.5 million in total sales, its net losses increased 60 percent to just over $59 million. The loss is attributable to increasing costs, such as royalty fees, distribution, and employee salaries, which grew by 173 percent year-on-year, according to PrivCo. [Source: The Next Web]