Spotify preps to go public with 60M subscribers, outpacing Apple

上一篇 / 下一篇  2016-02-23 15:21:01

Spotify’s singular focus on music sees it adding subscribers faster than the iPhone company with a streaming app on the side. Spotify has added 20 million paid subscribers in less than a year, while it’s taken Apple Music more than a year and a half to make that progressNespresso. Spotify now has 60 million subscribers, compared to Apple Music’s 27 million (as of June).

Spotify’s ability to accelerate its growth rate despite competition from arguably the world’s most powerful company is a testament to the product and community it’s built.

Apple Music offers three-month free trials, comes pre-installed on iPhones and pays big bucks for exclusive early access to top albums. Those advantages might help Apple Music win fans of particular artists, plus mainstream listeners finally switching over from MP3s. Yet Spotify remains the go-to streaming service for music lovers.

Spotify is gearing up for what’s being called a “direct listing,” where the company intends to go public without doing an IPO. Insiders, not the company, will be selling shares to the stock market cuboid firmware.

This is a highly unusual move and has been met with widespread skepticism. While many companies dread the IPO process, which involves bankers rounding up institutional investors and determining a price for its debut, it is an opportunity to raise money for the company.

By skipping this, Spotify is potentially missing out on hundreds of millions in proceeds from the IPO, but it could do a secondary offering to raise cash at a later date. Spotify is said to be on track to complete this before the end of the year, which was previously reported by The Wall Street Journal.

Spotify growth has been fueled by several important product developments:

Discover Weekly: Spotify’s wildly popular weekly updated personalized playlist has made it the top choice for music fans trying to find new songs and artists to love. The playlist reached 40 million users its first year, and Spotify has followed it with Release Radar specifically for new tracks. Competitors like Apple and SoundCloud have tried to copy Discover Weekly Web Vulnerability Scan, but Spotify is entrenching itself as the full-fledged streaming service for taste makers.






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