Technology

Streaming Service Company May Go Public Via Direct Listing

Streaming Service Company May Go Public Via Direct Listing

Spotify and Kanye are two titans in their fields, but the news points to a trend: Streaming is the new normal for how Americans listen to music.

However, sources have told the WSJ that Spotify is seriously considering an alternative way to become a publicly listed company rather than a conventional Initial Public Offering.

Spotify, a rival to Apple Music, has yet to report a profit as it expands, but is under pressure from some artists who have boycotted the usually free service and needs to show investors it can generate cash as it considers a U.S. listing.

Direct listings are relatively rare for major companies.

FDA green-lights more 23andMe genetic tests
Somehealth professionals worry that consumers will "take the results and run", as Mary Freivogel put it. Thrombophilia (hereditary); a blood clot disorder.

Last year Bloomberg reported Spotify meant to go public in the second half of 2017. For a company like Spotify with a valuation between $8 billion and $10 billion, avoiding those costs could save Spotify as much as $100 million, he added. This would benefit Spotify's path to profitability and an IPO.

The rumor mill is spinning that Spotify wants to go public in the near future, although the streaming giant has yet to demonstrate it can survive as a profitable company. Spotify could still choose to go with a traditional IPO, as the lack of precedent for direct listing could pose some risks for the company. Spotify would raise no additional capital, and the price of its shares would be set organically by supply and demand - meaning it could be more volatile.

Spotify has announced artists signed to the Universal Music Group (UMG) label will have their albums exclusively available to Spotify Premium users.

Spotify's licensing contracts with all three major record companies had long since expired and Universal's deal, the first to be renewed, will put pressure on the other major labels, Sony and Warner, to follow suit.


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