Spotify is making its public debut on Tuesday, April 3 at the New York Stock Exchange where the streaming service is poised to become a $20-25 billion company. Starting 12 years ago, Spotify has amassed 157 million users on their free-music platform while converting roughly 72 million of those subscribers into paying customers.
But analysts have noted that Spotify may not be an unequivocal home run investment as it may appear considering the company has never made a profit. Not to mention competing in a growing streaming-based culture with tech/e-commerce giants like Apple and Amazon. However, having about a 40% share of the global music streaming market makes Spotify a prominent player in the streaming industry. Coupled with projections of premium users shooting up to 170 million this year makes Spotify an interesting company to look out for on the stock exchange.
