Spotify, a music streaming platform founded in 2006, is one of the most popular music streaming services today. With over 140 million active users and over 40 million paying subscribers, it’s no surprise that Spotify has become a big player in the music industry. Given its success, many people are likely to ask the question: Is Spotify traded publicly?
The answer is yes – Spotify is traded publicly on the New York Stock Exchange (NYSE) under the ticker symbol ‘SPOT’. The company went public on April 3rd, 2018 and since then has seen its stock price increase significantly. At the time of writing, SPOT is trading at $264.35 per share – up from its initial public offering (IPO) price of $132 per share.
Investors have been particularly bullish about Spotify’s prospects for growth in 2020 and beyond as the company continues to add new features and expand into new markets. For example, Spotify recently launched its Premium Duo subscription plan which allows two people to share one subscription for a discounted rate. This move was seen as an effort to attract more users and encourage current users to upgrade their subscription plans in order to take advantage of this offer.
Spotify has also been investing heavily in podcast content in recent years as it looks to capitalize on this rapidly growing market. The company acquired podcast network Gimlet Media in 2019 for an estimated $200 million and has since gone on to acquire other podcast networks including Anchor FM and Parcast. These investments have helped position Spotify as a leader in the podcasting space and should continue to benefit the company going forward.
In addition, Spotify has been actively pursuing partnerships with other companies such as Samsung and Amazon Music Unlimited in order to expand its reach even further. These partnerships should help drive more revenue for the company over time as more users gain access to its services through these third-party platforms.
Overall, investors seem optimistic about Spotify’s future prospects given its impressive growth trajectory thus far and its focus on expanding into new markets such as podcasts and partnerships with other companies. As such, it appears that Spotify will remain traded publicly on NYSE for years to come – making it an attractive investment opportunity for those looking for long-term growth potential.
Conclusion:
Yes, Spotify is traded publicly on NYSE under the ticker symbol ‘SPOT’ since April 3rd 2018. Despite some volatility due to market conditions, investors remain bullish about Spotify’s long-term prospects given its focus on expanding into new markets like podcasts and partnerships with other companies.