PARTNERING UP: The deal for a 1.4% stake in Spotify comes just days after Apple, the world's most valuable company, launched a music streaming service at a price similar to Spotify's, muscling into a market already teeming with competition.
Investors have a lot of reasons to avoid Spotify Technology SA, owner of the world’s largest paid music service, when it lists shares on the New York Stock Exchange this year.
Operating losses at the company grew to €378mil (RM1.81bil) in 2017, up from €235mil (RM1.12bil) two years ago. The average user is paying just €5.24 (RM25.08) a month for a subscription, a drop of more than 20% from two years ago. And the only other major online music company to go public, Pandora Media Inc, is struggling.
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