Economy

Spotify IPO: How Will It Affect Your Music Listening Habits?

Spotify IPO: How Will It Affect Your Music Listening Habits?

Swedish music streaming company Spotify listed its shares on the public market for the first time last night as it started trading under SPOT on the New York Stock Exchange.

Music streaming giant Spotify has had an excellent debut on the New York Stock Exchange (NYSE). He was born and raised in Stockholm, where he founded Spotify in 2006. Sweden's flag is blue and yellow.

The direct listing is an interesting alternative for companies that do not need the market to raise capital, but want to keep the opportunities for increasing liquidity.

Less certain for investors, however, is Spotify's profitability. Almost 91 per cent of Spotify's 178 million shares were tradable, a much higher percentage than typical in a traditional IPO. Before you invest, you should read the prospectus in that registration statement and other documents Spotify has filed with the SEC for more complete information about Spotify and its ordinary shares.

Spotify isn't selling any shares and there's no lockup period for company insiders or, with one exception, current shareholders.

Spotify soared Tuesday to a value of more than $26 billion (S$34 billion) in its long-awaited stock debut as the market delivered a ringing endorsement of the future of music streaming. That puts Tencent Music's overall valuation at around €10.1 billion ($12.5 billion).

More news: Spotify valued at $30bn in Wall Street debut as stocks soar 25%

Shares initially "popped" up to $165 (£118) on opening, way above its guide price of $132 (£93).

It's not the first time fraudsters have targeted Spotify-an MBW investigation in February revealed how a Bulgarian playlist-maker scammed the Spotify payout system for months past year.

Spotify has been compared to streaming entertainment service Netflix for its growth potential.

"Normally, companies don't pursue a direct listing".

Though in music circles, more attention will focus on if and when the record companies decide to sell the equity they acquired in Spotify as part of their original licensing deals.

While Spotify has faced stiff competition from Apple Music over the past few years, it remains the market leader in music streaming with 71 million paying subscribers and 159 million monthly listeners across 61 countries.


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