Spotify is finally set to make its debut in India

APPLE MUSIC

Even though Spotify hasn't officially launched in India, there are many people in the country (including me) who still manage to use this streaming service. Spotify co-founder and CEO Daniel Ek along with senior executives Paul Vogel, Seth Farbman and Gustav Sodorstrom spoke about predictions about the company's future and the company's decision to go with an unusual public listing instead of a traditional IPO.

The news brings to a close mounting speculation on the flotation D-Day for Spotify, following the company's filing of a preparatory F-1 document with the US Securities and Exchange Commission last month.

There was an earlier report stating that Akshat Harbola has been hired to lead operations of the company in India.

With the market already running on a high note with players like Saavn, Gaana, Wynk, Apple Music and Amazon Music out there, Spotify is planning to enter the space of online music streaming in India, soon. However, Amazon's entry with Prime Music has thrown the field wide open, and Spotify - which has a good brand recognition in India, will be looking to take advantage of this. The service has 159 million users, with 71 Million of them being paid users.

Spotify now has over 159 million active users, including over 71 million Spotify Premium subscribers, offering a choice between a free ad-supported music service and a fully-featured, ad-free subscription option known as Spotify Premium, according to Businesstech.

Those figures should climb after the recent announcement Spotify would roll out in South Africa, Israel and Vietnam.

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Spotify allows users to browse, discover, curate playlists, build their own music collection and share music with friends.

Spotify also will not rely on underwriters to help assess market demand and set an initial price for the stock.

The company live streamed its investor day overnight where it discussed the big picture, why it is going public and its business model.

It's both selling music streaming services to listeners, and selling the tools to reach and monetize those listeners to musicians.

The independent service is jockeying against efforts from Apple, which has 38 million paid listeners and eschews advertising-supported services. During the investor day, Ek also revealed the company licensed more than 35 million tracks and employed 3,500 employees.

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