Apple Music Reaches New Milestone For Paying Subscribers

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Home EDM News Apple Music Reaches New Milestone For Paying Subscribers Apple Music Reaches New Milestone For Paying Subscribers

An assortment of companies have developed platforms offering similar services, but a few have driven ahead in the race for popularity and profit.

The streaming giant won't actually issue any new shares or raise money in its IPO, rather its existing stakeholders - which include the music majors and Merlin, the independent digital rights agency - can offer their shares to investors, a practice known as a direct listing. Advertising makes up only about 10 percent of Spotify's current revenue, and McCarthy said he would be "thrilled" if Spotify could pull in 20 percent of its revenue from ads, although he expressed some doubt about whether the company could hit that mark.

The company has previously alluded to the logic behind its decision - it wants to avoid giving any kind of preferential treatment to Wall Street and instead rely on ordinary investors to back its growth.

Their analytics platform will also show where listeners are discovering and listening to your music the most. "That shouldn't stop just because our stock is more widely owned".

While Spotify's reasons for skipping an IPO may not be earth-shattering, it's still interesting to see the thought process behind that decision. Unlike traditional IPOs, Spotify will not raise new capital.

The goal of this public offering, according to Spotify, is simply to "offer liquidity for shareholders".

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Co-founder and CEO of Spotify, Daniel Ek, has confirmed the news at the company's investor day presentation.

In recent years, there has been some shift away from the purchase of individual songs in favor of subscribing to large online libraries of music.

Vogel said the company had taken the choice to float via a direct listing because it was "more transparent and more accessible to a wider range of investors".

The company live streamed its investor day overnight where it discussed the big picture, why it is going public and its business model. "Supply will not be unnaturally constrained", Spotify added, "and price will not be distorted by market stabilization activities or short-sellers gaming a lockup expiration". It has hired brokerage Morgan Stanley to match buy and sell orders to set its opening trading price and said it will provide financial guidance to investors on March 26.

Taking 41% of the share of sales, paid streaming music services exceeded CD sales (37%) and is now the most popular music format in Belgium.

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