Music-streaming service Spotify has filed for an initial public offering with the US Securities and Exchange Commission. In the filing, the firm emphasised the strength of its ad-supported service, and the long-term opportunities it believes the service offers. Spotify reported a 45% increase in revenue from its ad-supported offering between 2016 and 2017. Despite losses of over $1bn during the period, growth was strong at 41%.
Music-streaming service Spotify has filed for an initial public offering with the US Securities and Exchange Commission. In the filing, the firm emphasised the strength of its ad-supported service, and the long-term opportunities it believes the service offers. Spotify reported a 41% increase in revenue from its ad-supported offering between 2016 and 2017. Despite losses of over $1bn during the period, growth was strong at 45%.