SAN FRANCISCO
Spotify is about to find out whether investors view its music streaming service as a budding superstar or a flash in the pan.
The Swedish company will make its stock market debut today, casting a spotlight on its early lead in music streaming — a stillevolving field trying to hook people on the idea that it’s better to subscribe for online access to millions of tunes than to buy individual albums and singles.
Spotify has struck a chord with 71 million worldwide subscribers so far and is aiming to increase that number to as many as 96 million subscribers by the end of the year.
By comparison, Apple’s nearly 3-year-old music streaming service has 38 million subscribers. A list of other formidable competitors that includes Google and Amazon also offer similar music streaming services, raising the specter of Spotify being wiped out by far richer rivals.
Spotify’s early lead in music streaming has drawn comparisons to Netflix, which built upon its pioneering role in DVD-by-mail rentals and then video streaming to create a hugely successful, subscription driven franchise that has produced spectacular returns for the company’s investors.
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