Spotify arrives in Canada amidst rumors of IPO

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Streaming service Spotify finally launches in Canada’s crowded music market

Spotify arrives in Canada amidst IPO rumors

Possible Spotify IPO?

It’s taken a while, but Spotify is official launching in Canada.

  • The company had signaled in 2009 that it was looking to move into Canada within months but never did. “Getting the licensing rights secured for millions of songs is always a challenge for every new market”, says Andres Sehr, Spotify’s marketing director. But he wouldn’t say exactly why it took so long for the service to launch here. Canada is Spotify’s 58th market.
  • “The Canadian market is really important for us, it’s one of the largest music markets, and I think it’s more that we wanted to make sure we got it done right and back at that time as a company it wasn’t right for us.”

More Here [Calgary Herald]

Spotify IPO in the works?

Looks like the streaming music company might be planning an IPO too.  This article states that Spotify is “Considered the global leader in music streaming, with more than 10 million subscribers in 58 countries worldwide”.

Motley Fool states that Pandora “is widely viewed as the market leader when it comes to streaming music. It served up more than 5 billion hours of content in its latest quarter. It had 76.4 million active listeners at the end of June. That’s a pretty sizable audience, and the market has bestowed a $5.5 billion market cap on Pandora.”

The latest frontier for both music streaming companies is the “connected car” space.  With drivers spending most of their travelling time listening to music of some form, the pundits wager this is a sure thing for music streaming.  Both Spotify and Pandora have been working directly with car manufacturers for years not on integrating their offerings directly into the dash.    Pandora also has partnerships with likes of Kenwood, Sony and Pioneer to embed music streaming features in their car devices.

With the huge amount of attention around “streaming anything” these days, any IPO in this space is generate lots of Interest.

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