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ExtraTorrent.cc > Articles > Spotify Considered the Idea of IPO

Spotify Considered the Idea of IPO

Spotify Considered the Idea of IPO

Added: Friday, April 4th, 2014
Category: Recent Headlines Involving File Sharing > Current Events
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, 2013, www.extratorrent.cc
Stockholm-based digital music service was noticed talking to investment banks about the US stock market floatation. The experts believe the company can enter IPO an a few months.
Screen_Hunter_01_Apr_04_20_54.jpg

The Swedish streaming service, launched 6 years ago, is currently partly owned by the largest record labels. Now the company is reported to be negotiating with the investment banks about an initial public offering in the United States.

Spotify didn’t provide any comments, but the market knows that a deal for the Palo Alto-based investor to take a stake in Spotify in 2013 valued the service at as much as $4 billion, the reports say.

Spotify claims to account for over 24 million users, 25% of whom pay for its premium ad-free service. The company also has a $200 million credit line from various lenders, including Morgan Stanley, Deutsche Bank and Goldman Sachs. It is obvious that any of these financial institutions could take the lead role in a flotation to earn millions in fees. Just like Spotify, Twitter, Facebook and Zynga also received these kinds of financing deals ahead of their IPOs.

The statistics say that of Spotify’s estimated 6 million paying subscribers, over a million reside in the United States. The streaming service charges up to $10 per month for unlimited ad-free access to its library of more than 20 million tracks. It is also known that almost 85% of the company’s revenues come from subscriptions, while the rest 15% are derived from advertising. These figures are almost exactly the opposite of Spotify’s publicly listed rival, the American-based Pandora, established in 2000: the latter gets only 12% of its revenue from subscriptions.

Posted by:  SuperAdmin
Date:  Friday, April 4th, 2014



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