The Sound of Music 🎼
Spotify is now considering a listing on the NYSE instead of an IPO. The music-streaming service is said to be negotiating with debt holders to change its bond terms in preparation for a listing. Spotify was valued at $8.5bn at its last equity funding round in 2015.
Spotify has more than 60 million subscribers now
The streaming service continues to grow before going public.
Apple Music now has 27 million subscribers
That's up from 20 million in December.
Spotify financials reveal a 539.2m net loss in 2016
Spotify has published its financials for 2016, and they reveal that the company's net loss increased from 231.4m in 2015 to 539.2m ($601.4m) last year.
Subscribers: Over 60 million (as of July 2017)
Active users: Over 140 million (as of June 2017)
Chance the Rapper Says His Apple Music Deal Was Worth $500,000
In a rare industry disclosure, Chance pulled the curtain back on the music streaming wars.
Since its debut in the summer of 2015, Apple Music has partnered closely with artists, including Drake, Frank Ocean and Future, sponsoring tours, music videos and more as part of arrangements that often included exclusivity windows on new releases, which Apple hoped would boost its subscriber numbers as it competes with the streaming leader Spotify. (Tidal, the streaming service spearheaded by Jay Z, has also used the strategy.)
Spotify introduces Time Capsule feature that works out your music taste as a teenager
Spotify has introduced a feature that curates a playlist of your favourite throwback hits. Time Capsule is available for anyone over 16 with a Spotify account in most countries. So if you think 2017 has been a bad year for music you can comfort yourself with some Lauryn Hill, Blink 182 or a bit of OutKast. The Independent office has been having a lot of fun delving into songs we'd almost forgotten.
Feedback on the playlist's accuracy has ranged from "creepily spot on" to "not bad", "a reminder that I was super lame" to "HOW DOES IT KNOW SO MUCH?".