Coming Soon! Spotify Confirms April 3 Public Offering

Coming Soon! Spotify Confirms April 3 Public Offering

Coming Soon! Spotify Confirms April 3 Public Offering

Various Spotify execs - including top boss Daniel Ek and chief money man Barry McCarthy - all took part yesterday in a live-streamed laid back briefing for potential investors.

"We are working on launching in some of the biggest markets in the world, including India, Russia, and Africa which has a very rich musical culture", Ek said.

Specific details about its Indian operations, however, were not disclosed as Daniel didn't reveal any specific timeline for the India launch, the company reportedly leased an office space in Mumbai a year ago.

Last week, we also learned that Spotify reportedly opened its office in Mumbai, India, which was a more than a subtle hint it might soon start offering localized content. This was disclosed in their public offering filing, which further concretes that the launch in India is quite near.

Even global music streaming services like Apple Music, Amazon Music and Google Play Music are already present in the Indian market.

Now the company boasts over 159 million monthly active users and 71 million premium subscribers, and is valued at nearly $20 billion.

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The service's free platform was a major reason why Taylor Swift chose to remove her music from Spotify in 2015 (before restoring it past year after some reported six-figure persuasion from the company).

Spotify made its debut in South Africa earlier this week, along with Israel, Romania, and Vietnam. With no lockup period and no intermediary bankers, Spotify thinks it can go public without all the typical shenanigans.

Spotify's F-1 revealed that it finished 2017 with 71m paying subscribers and 159m monthly active users (MAUs). Two: It allows us to learn from the biggest possible group of music fans in the world.

It is also rumoured that Google-owned YouTube is working on a dedicated music-streaming service. "The most important day isn't our listing day - but the day after and the day after that".

"With the industry's declining performance, Spotify's entry into the music market was timely - publishers and labels were receptive to trying new revenue models to revive growth, while consumers were ready to adopt a new paid option to access an unlimited jukebox".

The independent service is jockeying against efforts from Apple, which has 38 million paid listeners and eschews advertising-supported services.

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