If there is a king in the music streaming industry , it is undoubtedly Spotify . The popular platform has managed to surpass 60 million paying subscribers worldwide. This is very positive news that paves the way for its IPO scheduled for the fourth quarter of 2017.
This figure puts Spotify well ahead of its most direct competitors, such as giants Apple (which has not managed to break the 30 million user barrier) and Amazon Prime Music (barely a shadow player in this scenario).
The platform has managed to add around 20 million paying users so far this year despite the financial problems it has had to face.
These figures are added to by the more than 100 million users who enjoy the Spotify service for free . However, these users will see their access to content reduced, especially after the agreement signed between Spotify and Sony .
This is a necessary measure, since, despite the fact that its revenues grew bahamas phone number last year to 2.9 billion euros, the truth is that its losses are above 500 million euros.
The picture that Spotify is currently showing is ideal for continuing to take the necessary steps towards the aforementioned IPO . Its founder and CEO, Daniel Ek , plans for this to materialize before the end of the year and will do so by listing the company's shares in order to offer new titles as is the usual formula.
A strategy designed to save on commission payments when issuing new shares. Current shareholders will retain their stake with the option to sell their shares if they ultimately wish to, as noted by the Financial Times .