Spotify will go public on April 3

Apple Music hits 38M subscribers closes gap with Spotify

"Operating losses have grown with revenue, but the trend towards profitability is clear when you look at operating losses as a percentage of revenue", the company said in an investor presentation published ahead of an event in NY on Thursday. This could soon change as the biggest music streaming service in the world, Spotify, could soon make its way into India.

He didn't provide any specifics as to when Spotify may release nationally but this confirms that Spotify definitely has India's music loving audience on its radar. But, having said that, we aren't much surprised to see Spotify confirming its debut in India as the company has already leased office space in Mumbai and has also confirmed that it has a total of 308 employees in 21 countries which includes India as well.

Recognising that their biggest global rivals at the moment are tech giants Apple, Amazon and Google, they also talked up how their platform was all about the music, rather than being - in part at least - a tool to sell other services or devices. 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. There are easily two billion people in the world who can afford to pay for some level of music, yet Spotify and Apple Music combined have only around 100 million subscribers globally.

The service's free platform was a major reason why Taylor Swift chose to remove her music from Spotify in 2015 (before restoring it previous year after some reported six-figure persuasion from the company).

Spotify is a music, podcast, and video streaming service that was officially launched on 7 October 2008.

As part of its goal to reach as many people as possible, the music streaming service said its free, ad-supported tier would remain in place, even as almost 90% of its revenue comes from premium, subscription-based users.

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However, it warned that this so-called dividend should not be viewed in isolation. "The big challenges facing Britain of weak pay and productivity growth remain largely unchanged".

Once Spotify does come into the Indian market, it will have to compete against these established players to capture market share.

The company has recognised that most of its users are under the age of 34, making India an ideal platform to launch on with its current demographic dividend.

Earlier this week, Spotify launched in four new markets, including South Africa, Vietnam, Israel, and Romania.

Spotify also began testing a new voice-search service that allows users to seek content through a new voice interface, similar to Alexa or Siri, TechCrunch reported.

Spotify, in a filing to USA regulators, said that it had a 42% share of the global market in streaming in revenue terms in 2016.

Even though this is a substantial growth for Apple's Streaming Service.

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