Since it went public, the Spotify stock price has hit the lowest price on 24 December 2018 when it fell to nearly $100 (£75) and it reached a peak of $300 (£228) on 22 July 2020. The anticipated reference price for a Spotify IPO was set at $132 (£100), but the stock opened at $165 (£125). Spotify is traded on the NYSE under the ticker SPOT. The company decided to do its IPO through direct listing instead of going to underwriters. Spotify became a publicly-traded company on 3 April 2018 when the Initial Public Offering ( IPO) took place with the expectation that 90 per cent of its shares would be available for trading. The royalties are paid based on the defined calculation methods or arrangements made by Spotify and the rights holders. It also compensates the artists or the rights holders of the streamed songs. The services can be accessed for free through a Facebook account or by signing with an e-mail address.Īpart from that, Spotify has created several paid packages with different features. It enables users to access a vast number of songs, podcasts and videos from different artists in one place. Through the Spotify platform, the company offers digital streaming services.
Spotify is a company managed by Spotify AB. Its main headquarters are located in Stockholm, Sweden and there are more than a dozen offices around the world. Spotify Technology SA is a Swedish company established in 2006 by Daniel Ek and Martin Lorentzon.
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