Spotify CEO Confirms Plans To Launch In India

Apple Music now has 38 million subscribers up two million in a month

Its official, Spotify will go public on April 3rd. There are now more legitimate listeners of digital music than ever before.

Spotify and its advisers won't be setting a range for the company's shares before they start trading. Unlike traditional IPOs, Spotify will not raise new capital.

It did not turn a profit in 2017 losing €1.24bn higher than the 2016 result of €539m. Spotify is still the undisputable lead in this market as well. "Spotify's growth-oriented social features such as shared links, shared playlists, and aggressive integrations with social networks like Facebook in 2011 catalyzed rapid audience growth".

The new countries are Israel, Romania, South Africa and Vietnam.

Spotify is around 10 years old, and a lot of people have supported it along the way to becoming the world's leading music-streaming platform.

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Most of us here are well aware about the music streaming app Spotify and a lot of us have been waiting for it to hit Indian markets.

Spotify's current valuation is now above $20bn, according to some recent private share trades between investors in the company. "No underwriting syndicate, no limited float, no IPO allocations, no preferential treatment". "Unlike a traditional IPO, it's a completely level playing field". How the entry of an established, global name like Spotify will affect the existing players in the space remains to be seen.

The very product and software ecosystem is basically the means to getting users on-board of the service. "Supply will not be unnaturally constrained", Spotify added, "and price will not be distorted by market stabilization activities or short-sellers gaming a lockup expiration". CEO Daniel Ek told investors present at the talk: "For us, going public has never been about the pomp or the circumstance of it all".

As part of its goal to reach as many people as possible, the music streaming service said its free, ad-supported tier would remain in place, even as almost 90% of its revenue comes from premium, subscription-based users.

Spotify also warned investors it faces a variety of risks. In other words, it's not hanging with the financial elites - it wants everyone to be part of the conversation. We should find out in just a few weeks. "We think the wisdom of crowds trumps expert intervention". The live-streamed investor briefing was also an innovation, replacing the closed-doors pitch sessions to Wall Street types that would usually precede a big IPO.

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