Streaming music service Spotify has recently kicked off commercial efforts in South Africa, working in conjunction with high-growth media sales business Ad Dynamo which also represents the likes of Twitter and Snapchat locally.
Spotify Technology listed on the New York Stock Exchange in April 2018 to much fanfare, with a market capitalisaiton of just over $30bn. The company – which enjoys annual turnover of $5bn and has over 170m users globally – was one of the most eagerly awaited new listings in 2018.
Below is an interesting graph detailing the growth in subscribers which will appeal to investors keen to see technology businesses operating in the media space who need to monetise their offering:
Subscribers can opt for either the free service or pay the equivalent of R59/month and enjoy an ad-free experience with the ability to listen offline.
Spotify is monetising its “free” platform through the delivery of advertising and content marketing solutions.
Here is the graph detailing the share performance since listing and you can buy shares in the company through licensed South African Financial Service Providers (FSPs) offering access to international markets. Typically, you will be able to open an offshore account with $1000.
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