DIGITAL MUSIC SERVICE
Spotify prepares for launch in SA later in March
South Africans will later in March finally be able to legitimately subscribe to Spotify, the streaming service that has revolutionised how people listen to music and which announced its estimated $1bn initial public offering in February. Its local launch was one of the worst-kept secrets after the Swedish company, which is considered the gold standard of this new genre of music streaming, posted an advert in September 2017 for a "senior editor/music programmer — South Africa". On Tuesday, Spotify sent out an e-mail, effectively confirming the launch, saying: "Spotify has some news to share. Please join us on Tuesday March 13 to catch all the details." Like its unusual business model, which has attracted 71-million premium-paying customers in 61 countries, Spotify intends to list on the New York Stock Exchange using a direct listing, which omits the usual roadshows and hefty adviser fees. The listing is considered a possible test case for other brands such as Uber and Airbnb when the...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.