Spotify will begin trading on April 3

Apple Music now has 38 million subscribers up two million in a month

Apple Music now has 38 million subscribers up two million in a month

Most of us here are well aware about the music streaming app Spotify and a lot of us have been waiting for it to hit Indian markets.

The service's free platform was a major reason why Taylor Swift chose to remove her music from Spotify in 2015 (before restoring it past year after some reported six-figure persuasion from the company).

With the pitch now delivered in written and spoken form, all eyes will be on SPOT on the New York Stock Exchange next month to see whether investors have bought the narrative that this streaming music business is indeed the one that can reach the kind of scale required to realise some profitability in the long-term.

Spotify's current valuation is now above $20bn, according to some recent private share trades between investors in the company.

While Spotify has tried to guide investors in its listing prospectus by disclosing the value at which shares have changed hands in private transactions, the range has been wide.

Sweden-headquartered music streaming giant Spotify is in the process of launching operations in India, co-founder and CEO Daniel Ek announced recently during the company's investor day presentation.

Global music streaming service Spotify has officially launched its services in South Africa this week.

It's now easier to get your Samsung phone repaired in the US
T-Mobile has set two Guinness World Records to coincide with the launch of the Samsung Galaxy S9 and Galaxy S9 Plus tomorrow. Long story short, you need a case or you're nearly certainly going to smash your hot new Samsung phone.

Yet it was chief product officer Gustav Sodorstrom who enumerated three major reasons behind the company's Freemium service, which many observers agree has been a key toward converting users into subscribers.

Spotify executives also outlined its efforts to stay ahead of larger rivals.

The company has previously alluded to the logic behind its decision - it wants to avoid giving any kind of preferential treatment to Wall Street and instead rely on ordinary investors to back its growth. These include Tesla Inc (TSLA.O) in Europe and infotainment platforms Apple CarPlay and Google Android Auto.

Spotify also warned investors it faces a variety of risks. Speak on it below and look for Spotify to go public on April 3rd.

"Operating losses have grown with revenue, but the trend towards profitability is clear when you look at operating losses as a percentage of revenue", the company said in the presentation in NY.

Spotify sales grew to almost $5 billion in 2017, up from about $3.6 billion in the year prior. At the same time, net financing costs of 855 million euros pushed up operating losses to 378 million euros from 349 million euros.

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