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Spotify will go public at a rate of 60 million users, more than apple

  • Author:chinatopwin
  • Source:chinatopwin
  • Release on :2017-08-01
Spotify's unique focus on music makes it more subscribers than the iPhone, while the latter has a 
streaming app. Spotify has added 20 million paid subscribers in less than a year, and apple's 
music has taken a year and a half. Spotify currently has 60 million users, while Apple Music has 
27 million users (as of June).

Despite competition from some of the world's most powerful companies, Spotify still has the ability 
to speed up its growth, demonstrating the products and communities it has built.
Apple Music offers three months of free trial, pre-installed on the iphone and a hefty fee for 
exclusive access to top albums. These advantages may help apple music win fans of specific 
artists, plus mainstream audiences eventually switch from mp3 players. However, Spotify is still 
the preferred streaming service for music enthusiasts.
Spotify is preparing for what is known as a "direct listing", which plans to go public without an IPO. 
Insiders, not companies, will sell shares to the stock market.
It was a highly unusual move and was widely questioned. While many companies are concerned 
about the IPO process, it is a chance to raise money for the company. The IPO process includes 
bankers rounding up institutional investors and determining the first day of trading.
If it doesn't, Spotify may miss hundreds of millions of dollars in proceeds from the IPO, but it could 
be reissued in later days to raise cash. Spotify is expected to finish the work by the end of the 
year, according to the Wall Street journal. Previously, the Wall Street journal reported that Spotify 
would complete the work by the end of this year.
Spotify's growth has benefited from several important product developments:
Weekly update: Spotify's popular weekly update of personalized playlists makes it a top choice for 
music enthusiasts looking for new songs and artists. The playlist reached 40 million users in the 
first year, and Spotify then launched a new single for the release radar. Competitors like apple 
and SoundCloud are trying to replicate the weekly findings, but Spotify is using itself as a full 
streaming service for its attempts.

Recruitment popular artists: although initially because did not pay enough to the musician 
royalties under severe criticism, but on the basis of company's subscribers, pay costs soared. If 
artists want to gain huge success, with services has become a must in the distribution channel, 
the company's capital, and the influence of the company, has attracted users like Taylor swift to 
join the company. The public appearance could strengthen Spotify's position in the music industry 
and convince artists and listeners that it will continue.
Google Home + Spotify and Amazon Alexa: voice-controlled music is an incredible experience 
that listeners can purchase through smart speakers from Amazon and Google. While Amazon's 
Alexa is its own Amazon Prime Music service, Spotify is one of Google Home's main partners. 
Spotify has become more popular than other partner Pandora and Google music, and Google 
Home recently began allowing free ad-supported services for Spotify. Once apple starts rolling 
out its own home pod smart speaker, the partnership with Google will become even more 
important.