Spotify disputes earlier report that it lost to Apple Music in streams of The Weeknd’s new single

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It was reported earlier this week that more Apple Music subscribers streamed The Weeknd’s new album, My Dear Melancholy, than Spotify members. This seemed like something of a coup for Apple given that it has around a quarter of Spotify’s subscriber base – all the more so when Spotify had two exclusive music videos from the EP.

But Spotify now apparently disputes this, bizarrely claiming that it initially provided the wrong numbers …

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9to5Mac

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Spotify quibbles with Apple Music over The Weeknd streaming numbers

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Spotify and Apple are in a battle over rival streaming music services, and sometimes such conflicts can turn a bit petty. After it was reported that The Weeknd’s latest album and lead single performed better on Apple Music than it did on Spotify, Spotify hit back by reporting that the numbers it initially gave were, […]

(via Cult of Mac – Tech and culture through an Apple lens)

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Surprise! Spotify now says its Weeknd debut beat out Apple Music

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Spotify on Wednesday issued an update regarding streaming figures related to The Weeknd’s new album "My Dear Melancholy," saying it beat Apple Music’s debut of the same record by 3 million streams.
AppleInsider – Frontpage News

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Spotify claims it actually had a better Weeknd than Apple Music

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Yesterday, The Verge reported that The Weeknd’s latest album, My Dear Melancholy, had a very strong debut on Apple Music, pulling in 26 million streams in the first 24 hours. The lead single, “Call Out My Name” pulled in an additional 6 million streams, surpassing the 3.5 million streams the single pulled in on Spotify during the same period, according to The Weeknd’s label, Republic Records.

Obviously that would be a huge win for Apple Music given that it has around 120 million less users than Spotify, didn’t have two exclusive music videos from the project, and didn’t have The Weeknd promoting its service.

But there’s a twist! Spotify says the numbers it initially gave Republic Records were in fact wrong. “Call Out My Name” was…

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Apple pours millions into ad buy featuring band best known for tweaking Spotify

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Variety reports today that Apple selected Vulfpeck, a band “best-known in industry circles for gaming Spotify to raise money for a tour,” to provide the music for a recent Apple Pay commercial — a feat that gave its song $ 22.5 million in paid TV exposure. The selection is said to be part of an Apple shift back towards licensing mu…Read More
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At $27 billion, Spotify is the seventh-most-valuable internet company to go public in the U.S.

How Complete Beginners are using an ‘Untapped’ Google Network to create Passive Income ON DEMAND

It’s up there with Google, if you don’t adjust for inflation.

Spotify’s public offering is not only notable because of its uncommon choice to list its shares directly on the stock market. The stock, which began trading today, also ranks among the most valuable internet companies to list in the U.S.

Its closing market value today was about $ 27 billion, according to Dealogic, putting it ahead of Twitter and Groupon, but behind Alibaba, Facebook, Snap and Google following their first trading days. That’s despite a stock price decline of about 11 percent today.

Spotify is also the most valuable tech IPO since Snap went public last year, closing its first day at nearly $ 29 billion. Spotify had the 25th-biggest first-day closing market cap out of companies in all sectors, according to Dealogic’s data, which goes back to 1995 and is not adjusted for inflation.


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Spotify begins public trading under symbol SPOT

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Spotify is now a publicly traded company. The world’s largest streaming music provider began public trading today on the New York Stock Exchange under the symbol SPOT. The stock opened at $ 165.90 per share and has been trending down since then; according to Market Watch, as of this writing, it’s hovering around $ 153.

The company filed papers with the US Securities and Exchange Commission to go public in late February.

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Spotify begins public trading under symbol SPOT was written by the awesome team at Android Police.

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Spotify Valued at $29.5 Billion as Stock Begins Trading at $165.90 Per Share

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Spotify, Apple Music’s main competitor, this morning opened on the New York Stock Exchange at $165.90 per share, valuing the company at $29.5 billion.

When Spotify filed to go public in February, CNBC estimated the company’s valuation at ~$23 billion based on private trades that had reached as high as $132.50. Spotify used the $132 per share figure as its reference price, which would have given the company a $23.5 billion valuation.


As noted by TechCrunch, Spotify is not selling its shares on the stock market and is not raising money today. Its direct listing is instead a collection of transactions from existing shareholders selling shares to stock market investors.

Spotify employees are allowed to sell their shares right away, unlike with a traditional IPO, which could lead to volatility in the coming weeks.

As of December 31, 2017, Spotify had 159 million active monthly users and 71 million premium subscribers, which Spotify says is “double the scale” of Apple Music. Apple as of February boasted 36 million paying subscribers.

In an appearance on CBS This Morning, Spotify cofounder and CEO Daniel Ek today discussed the company’s public offering and a recent report from The Wall Street Journal suggesting Apple Music is on track to overtake Spotify in U.S. subscribers.

In response, Ek said that because Spotify is twice the size as Apple Music, the company “still has some room.” Ek said that he’s “very happy” with the growth that Spotify is seeing. The music industry, he says, is too big for Spotify alone.

“What we’ve found is that when we’ve got competition, it actually grows the market because more people are now talking about streaming. It’s easy to forget that just three years ago, even in the U.S., streaming wasn’t a thing,” he said.

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Apple Music almost doubles new Weeknd song streams versus Spotify

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The new EP by pop/R&B singer The Weeknd managed over 26 million streams within 24 hours on Apple Music, Apple said on Tuesday, some 6 million of those belonging to the song "Call Out My Name."
AppleInsider – Frontpage News

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Spotify stock reference price set at $132 a share, placing company valuation at $23.5 billion

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Spotify, the world’s largest music streaming service, went public this morning, trading under ticker name SPOT, with the New York Stock Market setting its reference price at $ 132 a share. That puts the company value at $ 23.5 billion, and is on target with what CNBC reported last month when shares were traded on private markets were for as high as $ 132.50 a share. Spotify’s last valuation was at $ 8.4 billion when it raised a financing round of $ 400 million back in 2015.

Sweden-based Spotify is available in 61 countries with an overall user base that includes ad-supported free listeners of 159 million, and 70 million paying users as of January 2018. The company was founded in 2006 by Martin Lorentzon and Daniel Ek, who remains its current…

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