Streaming App Spotify Enters Stock Market

Streaming services have cemented themselves as an integral part of the music industry.

Photo via pixabay

By Kyler Telge, Staff Writer

April 3, 2018, marked the day that popular streaming app Spotify entered the Stock Market. With an active user base over 150 million and approximately 71 million paid subscribers, it holds an integral part of the streaming market.
After its first day, the value of an individual share was worth $149.01, down from the starting price of $165.90, but this was higher than its reference price set of $132 by the NYSE.

Personally, I would wait a couple of months to see how the market treats Spotify before investing anything. While it is possible that the share worth explodes it doesn’t seem likely. Streaming, while common among many, is volatile in that we don’t know if a single service will continue to dominate the market or get pushed to the wayside because of a multitude of reasons.
It is nice to see media shifting in new directions. Even if that direction is data consuming, paying up or getting constantly shown ads, and low bitrates that can’t rival mp3’s and CDs (excluding Tidal).