Spotify now has 60 million paid subscribers as of July 2017. This is double what Apple has with their Apple Music, their last subscribers numbers were announced in June and they had 27 million.
That means that the company has managed to add around 20 million new paid subscribers in under a year. It has taken Apple music more than a year to add 10 million new subscribers.
According to a recent report by TechCrunch, Spotify is preparing to go public, the company will apparently use a ‘direct listing’. This means that there will be no IPO, instead shared will be directly listed on the stock market.
Spotify will apparently miss out on hundreds of million from the proceeds of an IPO by not doing one. The company could possibly do a secondary IPO at a later date.
As yet there are no details on when this is planned for, as soon as we get some more details on exactly what the company has planned, we will let you guys know.
Source TechCrunch
Filed Under: Technology News, Top News