It’s Been A Long Time Coming..
Talk on the music industry’s lips for a long time now has been that streaming giant Spotify will, at some point soon, go public with it’s shares and begin trading on the stock exchange.
Now, that day is finally upon us. As the largest streaming platform by some distance, there’s been a lot of discussion, concern and prophecising about what this will mean for the platform and inevitably, the wider industry. The general feeling though, is that the platform will now be at the mercy of privatised interests, brand partners and advertising revenue. Unavoidably, harming the user experience. The company has been facing significant risks to it’s business model for some time now. Fluctuating royalty rates have been a controversial point since the start, and recent lawsuits from labels and publishers added to the mounting pressure to thicken their cashflow.
Full details are not yet known, as their share prices will not be underwritten. But it’s almost certain that the world’s most popular streaming service is about to go through some significant changes.
“Spotify was founded on the belief that music is universal and that streaming is a more robust and seamless access model that benefits both artists and music fans.” – Spotify PR