What will it mean for the music world now that Spotify has gone public?

For those who wanted to know exactly how baller Spotify is, the time has come. The streaming giant has just gone public and is reportedly coming in at $23 billion, with shares reportedly trading at $132.50 on private markets.

It was a long time coming but now that the numbers are out in the open, it seems that we are all able to get a piece of that sweet pie. At a price.

Image via Fortune

In 2017 Spotify raked in a whopping $4.6 billion in revenue, reporting a loss of $1.4 billion in the same year.

An industry observer stated last year, the company going public would change the benchmarks for success at a company that has become almost synonymous with streaming music. Given Spotify’s outsized importance to the present-day music industry, whether this move succeeds or fails could ultimately affect the music that gets made – and heard.”

It’s going to change the way Spotify operates and could impact their future projects as they now seek to join the competitive markets of YouTube and iTunes on their way to dominance. Not bad for a 10-year-old Swedish company.

That said, the next few years could be a rollercoaster for the streaming giant. Let’s see how it plays out.

Via Pitchfork.