Concerns Over Spotify’s Plans For Direct Listing

Every man has a choice when it comes to music. For example, it is possible for electrician in Wynnum to have a preference for rock and pop music. However, there are also electricians who avoid music while they are working seriously because they are actively distracted. Others feel sleepy when they listen to music through their earphones.

Since 2010, the Manhattan Chelsea neighbourhood has served as home to Spotify US headquarters. However, later this year, the music streaming company will be moving most of its 1,200 New York-based employees to the 14 floors of 4 World Trade Centre in the restored Financial District. Part of the deal in the 15-year lease will be an $11 million rent reduction that will be provided by New York; however, Spotify will keep 800 jobs in the state and add 1,000 more.

Spotify is expected to make its presence in Lower Manhattan in 2018. At the New York Stock Exchange which is just a few blocks from Spotify headquarters, the music streaming company will embark on direct listing. This is an unconventional method of initial public offering that has never been attempted in large scale.

The music industry is anxiously waiting together with Spotify and Wall Street. The fortunes of the music industry are dependent on Spotify which is becoming the top music distributor of the industry. If the bold move of Spotify backfires, the pain will be felt by the music industry.

According to Steve Barnett of Spotify and CEO and chairman of Capitol Music Group, Spotify is very influential all over the world. According to Nielsen Americans are spending 32 hours a week to listen to music. Spotify has increased its lead over Apple and Amazon, its closest competitors but direct listing is raising concerns that the company might experience the same turbulence as Snap, another digital media favourite.

There is a high possibility that electrician in Wynnum is into music provided by Spotify; however, it is very unlikely for them to be wearing headphones while on the job because they are seriously focused to the job on hand. They cannot afford to make mistakes because it can affect their professionalism.