1/7/2023 0 Comments Spotify news ipoBut Spotify CEO Daniel Ek argues the free service is an important conduit for users to the paying service. It arguably would be difficult to go public before this impasse is resolved.Īnd finally, with plentiful pre-IPO financing available for tech companies that are still in a growth phase, there is no need to bother with the hassle of a stock market listing. Like Swift, the labels don’t like Spotify’s free service because it cannibalizes album sales, and pays less in royalties than the subscription product does. ![]() Other free internet services are more passive and radio-like and don’t allow for on-demand listening. ![]() This is the service that Taylor Swift, who pulled her catalog from Spotify in November, is so upset about. It allows people who are prepared to sit through occasional ads to listen to songs on demand. ![]() Perhaps most crucially, record labels, which own a significant chunk of the equity in Spotify, want the company to do away with its free, advertising-supported service.
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