Coming Soon! Spotify Confirms April 3 Public Offering

Coming Soon! Spotify Confirms April 3 Public Offering

Spotify launched its music streaming service in South Africa, marking its entry into the continent, where smartphones are gaining momentum and telecom infrastructure is improving.

Apple Music has been available since mid-2015, Google Play Music entered the market past year, and Amazon Music just launched over two weeks ago.

In an unusual move, the company is not issuing new shares as in a traditional initial public offering. In 2017, the valuation ranged from $6.3 billion to $20.9 billion for the 12.8 million shares that changed hands, based on the stock price and shares outstanding listed in the filing.

Spotify now has over 159 million active users, including over 71 million Spotify Premium subscribers, offering a choice between a free ad-supported music service and a fully-featured, ad-free subscription option known as Spotify Premium, according to Businesstech.

Spotify will go public on April 3 as the world's largest streaming company lists on the New York Stock Exchange.

Spotify is officially going public via direct listing on 3 April, the company confirmed at its investor day presentation on 14 March.

About 44 percent of Spotify's 159 million monthly active users (both paid and unpaid) log into the service daily and spend 49 minutes on it.

Brazilian Activist Marielle Franco, Who Protested Police Violence, Has Been Assassinated
A huge crowd marched to the Rio state assembly to protest the slaying of Marielle Franco , 38, the previous day. Three days ago she denounced the deaths of two youths during a military police operation in Acari community.

In a response clearly meant to counter claims that Spotify is not paying artists sufficiently, Ek said the company's goal is to enable 1 million people to live from music.

When it came to that business case, the Spotify execs acknowledged that massive scale was required to make the current streaming model work.

With Spotify available on PlayStation Music, users can stream music on their PlayStation 4 while gaming.

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.

However, we must also consider that Spotify has also been aroiund since 2011. There are now more legitimate listeners of digital music than ever before. Amidst all this how Spotify will affect the existing players will be a treat to the ears.

The service allows music-lovers in Kenya the ability to stream their favorite music from local and global artists, while providing a platform through which artists will be able to sell their music and make it available to consumers on a large scale.

Related Articles

  • Michael Crabtree Signs With Baltimore Ravens

    Michael Crabtree Signs With Baltimore Ravens

    The Baltimore Ravens signed wide receiver Michael Crabtree to a three-year contract on Friday, the team announced. He then signed a four-year, $35 million contract extension with the Raiders later that same season.
    Worldwide  community pledges $100M to UNRWA

    Worldwide community pledges $100M to UNRWA

    The Trump administration announced in January it was withholding $65 million of a planned $125 million funding installment. The agency's chief, Pierre Kraehenbuel, said expectations in the region were high that donors would step up.
    Samsung Galaxy Phones Get Same-Day Repairs

    Samsung Galaxy Phones Get Same-Day Repairs

    Samsung is a pioneering leader in smartphones and HDTVs in the US and one of America's fastest growing home appliance brands. When it comes to battery capacity, the Galaxy S9 packs in about 10% more than the iPhone X - 3,000mAh instead of 2,716mAh.
  • South Africa Reinstates Corruption Charges Against Former President

    South Africa Reinstates Corruption Charges Against Former President

    Previous year a court ruled that the decision to throw out the charges had been irrational and ordered prosecutors to reinstate. He was accused of corruption numerous times during his nine-year presidency, but has always maintained his innocence.
    The FDA Plans To Drastically Reduce The Amount Of Nicotine In Cigarettes

    The FDA Plans To Drastically Reduce The Amount Of Nicotine In Cigarettes

    An additional wave of rule making will explore the role that premium cigars and flavors, including menthol, play in tobacco use. Commissioner Scott Gottlieb called the move "an historic first step" to make cigarettes minimally addictive or nonaddictive.
    SNOW ALERT: We could see more of the white stuff in Salisbury

    SNOW ALERT: We could see more of the white stuff in Salisbury

    A Met Office weather warning issued earlier this week for snow and ice was originally meant to run until Saturday morning. The Telegraph was also told by the Met Office that there could be between two and five centimetres of snow in some areas.
  • Jets Working On A Deal With Teddy Bridgewater

    Jets Working On A Deal With Teddy Bridgewater

    The former 2014 first-rounder completed 64.7 percent of his passes and threw for 6,150 yards during his tenure in Minnesota. Former Rams free-agent cornerback Johnson agreed to terms with the Jets on a deal that could be worth $15m per season.
    At least 18 Pets Died On United Flights Last Year

    At least 18 Pets Died On United Flights Last Year

    Alaska Airlines carried nearly 115,000 animals previous year and reported just two deaths and one lost animal, the data show. The internet went into outrage this week following the news of a dog's death aboard a United flight from Houston to NY .
    I've Got Players - Mauricio Pochettino Confident of Covering Harry Kane Absence

    I've Got Players - Mauricio Pochettino Confident of Covering Harry Kane Absence

    Kane was diagnosed with lateral ligament damage in his right ankle on Wednesday after a challenge with Asmir Begovic during last weekend's clash with Bournemouth.
  • All six candidates set to enter RS unopposed in Maharashtra

    All six candidates set to enter RS unopposed in Maharashtra

    Three nominated members - actor Rekha, cricketer Sachin Tendulkar and social worker Anu Aga - will also retire then. Both the BJP and the Congress had the strength of MLAs to send two candidates each to the upper house .
    Kentucky police search for suspect in officer's killing

    Kentucky police search for suspect in officer's killing

    "For now, our honest condolences go out to his family, friends, and colleagues at the Pikeville Police Department". Visitation and funeral services are set for a Pikeville police officer killed in the line of duty Tuesday.
    Betting Preview For 2018 NCAA Tournament — March Madness Odds

    Betting Preview For 2018 NCAA Tournament — March Madness Odds

    But while Bennett has taken UVA to five of the past six NCAA Tournaments , the Cavs have played on the second weekend just twice. The Cavaliers move too slowly to build up huge leads even when they dominate play, and a few fluky shots can bring teams back.