"We think the wisdom of crowds trumps expert intervention".
Spotify will be giving its first yearly financial guidance on March 26. In 2017, the valuation ranged from $6.3 billion to $20.9 billion for the 12.8 million shares that changed hands, based on the stock price and shares outstanding listed in the filing.
Spotify's big day is getting closer, as the music-streaming giant kicks off its public listing push with its official Investor Day presentation later today.
Apple Music has been available since mid-2015, Google Play Music entered the market previous year, and Amazon Music just launched over two weeks ago. "We're not focused on selling hardware". "You won't see us ringing any bells or throwing any parties", when the company finally lists on 3 April, he said.
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72% of Spotify users are under the age of 34, while 43% are under the age of 24. Head of artist relations Troy Carter spoke about the company's Spotify for Artists, which helps them pinpoint their audience and its habits and which he said more than 100,000 artists per months are using. Spotify will pay off financially once it scales and reaches more people, he said. He cheekily calls this "self-driving music".
Will Spotify's IPO be a hit? That gives it leverage over the record labels so Spotify can get better licensing deals and favorable treatment. Plus, it wants people to know that it doesn't need to raise more cash - it's doing just fine.
Wall Street loves a two-sided marketplace, so Spotify is positioning itself in the middle of artists and fans, with each side attracting the other.
The increase in connectivity in South Africa, supported by greater infrastructure investment, and the growing usage of credit cards and bank accounts, has attracted global music and video streaming providers. Just a few months since then, Apple Music is now reporting a total of 38 million paying subscribers, and 8 million trial users.
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Sony is the biggest industry shareholder with a 5.7% holding in Spotify.
With Spotify available on PlayStation Music, users can stream music on their PlayStation 4 while gaming.
Spotify shares have traded on secondary markets for a while already, and the company believes this will prove to be a good guide for its public market pricing - though we can perhaps expect a little more volatility than we might see with a traditional IPO.
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