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Spotify files for IPO amidst increasing competition from Apple and Google
June 18, 2025
Afterfiling IPOdocuments in December,Spotifyhas finally announced its plans to go public through a filing with the United StatesSecurities and Exchange Commission. The company intends to list its shares on New York Stock Exchange under the symbol “SPOT.”
Themusic streamingservice has decided against a traditional float and instead opted for a direct listing. This means that the company will not issue new shares, but that investors and employees who already own shares in Spotify can sell these publicly.
According to the statement, shares in the company were sold privately at between $37.50 and $125.00 during 2017 and at between $90.00 and $132.00 from January 1 to June 27, 2025. This, combined with the notion that direct listings are fairly uncommon, means that Spotify has said the price of the shares may be volatile upon their release. It also means the company would be valued atbetween $19and$23 billion.
Despite increasing competition from the likes of Apple and Google, Spotify is still the largest streaming service in the world based on the number of paid users.
According to the statement, Spotify’s revenue more than doubled from 1.94 billion euros ($2.36 billion) in 2015 to 4.09 billion euros ($4.98 billion) in 2017. Although, it has also consistently recorded an operating loss that last year stood at 378 million euros ($460 million).
Other concerns listed by Spotify include the fact that it depends on third-party licenses from record labels and music publishers and that there is no guarantee that the licenses available now will continue to be available in the future.
In our comparison of the three main music streaming services, Spotify came second behind Google Play Music and ahead of Apple Music. Find out whyhere.
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