Spotify Will Officially Go Public On April 3

During its inaugural "Investor Day" on Thursday, Spotify confirmed reports that it will go public the week of April 2 - it will do so on April 3, to be exact, with guidance issued on March 26 - and doubled down on its controversial freemium model, which has been lambasted by many artists but the company claims to have been a vastly effective gateway to the service, with a high but unspecified conversation rate. An opinion shared by the federal Minister for the Digital and Telecommunications Programme, Alexander De Croo, who says, "The significance of streamed music will only increase, as much for artists as for the music industry".

Spotify's CEO and Chairman, Daniel Ek, is about to give a live presentation to investors and would-be investors in NY. In a normal IPO, such meetings are reserved for fund managers and other big Wall Street investors.

Stockholm-based Spotify had announced the "novel" listing last month, without giving a date. They said Spotify doesn't need the money, but they want to give existing shareholders the opportunity to easily sell shares on a public, liquid exchange.

Ek said he would not be ringing the bell or standing on the floor of the NY stock exchange giving interviews when Spotify's shares start trading.

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Spotify also warned investors it faces a variety of risks.

Spotify is aiming for offerings that drive usage and sign-ups, such as timed exclusives and albums with unique video components. We have had the continent in our sights for a while and are finally able to offer South African fans access to all the music they already love on Spotify, while helping them to enjoy, discover and share new music from both local and global artists simply and easily", says Michael Krause, Spotify MD: "EMEA. "The more they engage, the more likely they are to decide that pay music is for them", he added later. It also has 92 million users of its free, advertising-supported service, which acts to recruit new users to its premium, paid offering.

With 71 million subscribers at the end of 2017, Spotify is the leader in streaming music, which is fast becoming the dominant form of paid music consumption.


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