Since it was first launched in October 2008, Swedish music streaming Spotify has gone from strength to strength and with it reporting to have made $200 million in revenue in the first six months of 2012 alone, it’s unlikely to be going anywhere any time soon.

The company has reported a profit this year of around $60 million after taking into consideration costs of marketing, licensing etc.

Now, the company is planning expansion into Latin America and Europe which will take effect in 2013.

Founder Daniel Ek has said that he is focused on growing Spotify around the world and the company is advertising for new staff in the respective areas they are moving into.

The company is also said to be in talks with record labels about expanding into Japan although there is no official word as to when this is likely to be.

The figures show that the popularity of Spotify has grown at such a rate that the creators themselves may not even have predicted although the company has been criticized for not fairly compensating artists for the use of their music.

Despite any controversy that the service has caused, expansion is not just limited between countries but also to include changes in technology with a new Spotify app being announced for Windows 8.

Love it or hate it, Spotify creates a legal gateway for music fans to access the music that they love quickly and cheaply.