Spotify claims 70 million paying subscribers – an increase of 10 million since last June. (Credit: Christian Hartmann) The world leader in streaming would be interested in a direct quotation, a form of introduction unusual Exchange. After doubling its turnover in 2016, Spotify has continued to recruit subscribers at full speed last year. The Swedish company now boasts 70 million still far ahead of its main competitor Apple Music.
The arrival of Spotify on Wall Street continues. After months of rumors, the world’s number one music streaming filed a confidential request for IPO with the US stock gendarme (SEC) in late December, said Wednesday the site Axios information. The Swedish platform would seek a listing in the first half 2018, between March and April, completes the Wall Street Journal. Feature: Spotify would be interested in a direct quotation, an unusual procedure.
Indeed, this form of introduction unusual Exchange does not plan to issue new shares: it will only allow the current shareholders to sell their shares. Known as simple, direct listing also allows the newly-listed company to save some costs, such as commissions. The operation should be particularly scrutinized by other companies. If the introduction is going well, startups like Airbnb could follow and opt for a direct quotation, according to sources close to the interviewed by the Wall Street Journal.
A world leader with 70 million subscribers
The Swedish group claimed Thursday 70 million subscribers – a jump of 10 million compared to last June. The number of non-subscribers with access to the music, but with ads, is unchanged since last summer (140 million). Founded in 2006, Spotify continues to widen the gap with its main competitor, Apple Music, arrived later 2015. The firm Apple claimed last September only 30 million subscribers.
It remains a downside: Spotify’s business model, which still fails to be profitable since its inception. The platform has seen an explosion of net losses in 2016, to 539 million euros … for a turnover of 2.93 billion euros (+ 52% compared to 2015), according to figures released in June by Luxembourg holding Spotify Technologies. The valuation of Spotify is currently estimated at 19 billion dollars, against 8.5 billion in 2015 at its last fundraising.