Spotify Is Now A Publicly Traded Company
Spotify has effectively made its very first sale stock available to the public, with the Security and Exchanges Commission on Wednesday (Feb. 28). That's right folks, Spotify is now a publicly traded entity. Spotify will now be certified under the abbretion SPOT, at the New York Stock Exchange.
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In their presser, Spotify made claims usership soaring over 71 million mark, nearly twice as much as Apple Music. The 1 Billion dollar IPO gives us an inside look at Spotify's financial structure. The billion dollar total is the collective sum all transactions by all existing shareholders. The number is subject to change. Never the less the company is not issuing this IPO, in order to raise capital. They are simply trying to stay head above water.
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Spotify's prit margins are still well below Apple Music because licensing fees. Spotify is forced to endure these fees at the behest music labels. The only solution in this industry is to control your own content. We'll have to see how this unfolds.