Digital music giant Spotify recently created buzz by owing 60 million paying subscribers, adding 10 million subscribers in less than five months, a spokeswoman for the music streaming company stated recently. However, the spokeswoman refused to remark on a report in the Financial Times that the Swedish company was eyeing a listing as soon as the fourth quarter, citing people recognizable with the matter.
Spotify, which very newly chosen financial consultants to discover a direct listing on the New York Stock Exchange, said in June that its operating loss broaden in 2016 but revenue go up considerably.
In the month of March Spotify accounted that it had 50 million paying subscribers, a climb of 25 percent in less than six months, expanding the music streaming services direct over its contiguous rival, Apple Music.
Few weeks ago Reuters reported that Spotify was almost agreed to a new licensing pact with Warner Music Inc, the last big music sovereign’s contract it desires before pushing ahead with a U.S. stock market listing, four sources recognizable with the circumstances said.