Spotify to soon launch its music streaming service in India

By : |March 19, 2018 0

Spotify, the global music streaming platform is finally coming to India. Spotify co-founder and CEO Daniel Ek confirmed the launch at the company’s Investor Day 2018 presentation.

“We are working on launching in some of the biggest markets in the world, places like India, Russia, and Africa which has a very rich musical culture,” Daniel Ek said. However, Ek hasn’t divulged any specific timeline about the launch. There had been rumours that the music streaming giant has already leased an office space in India.

In India, the music streaming company will face competition from Google Play Music, Apple Music and the newly launched Amazon Music. It while also giving tough time to other streaming services including Saavn, Gaana, Hungama, and Wynk Music.

                                 

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Additionally, at Spotify’s Investor Day 2018 annual presentation, Ek also announced about going public on April 3 through an unusual approach, which involves a direct listing as opposed to Wall Street underwriting a public offering. Ek said, “For us, going public has never been about the pomp or circumstance of it all. You won’t see us ringing any bells or throwing any parties. The traditional model for taking a company public isn’t good for us.”

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