Spotify forecasts up to 96 million subscribers in fiscal 2018

Spotify says about 2 mln users blocked ads without paying

"Shares of Spotify Technology SA are set to begin trading on the New York Stock Exchange on April 3 in an unusual direct listing without traditional underwriters", Reuters notes. For user numbers, it's targeting between 92 and 96 million paying subscribers this year. Revenue for the full- year is anticipated to reach or even surpass €5 billion, up 20-30% from the previous year figure. In the first quarter alone, its base of paid subscribers grew to 73-76 million (up 41-46% year-on-year) on total active users of 168-171 million (up 28-31%) with revenue in the range of €1.10-1.15 billion. Apple Music is well back in second place, with Amazon third, but that still leaves it with the perennial problem of how to generate a profit from a turnover that is expected to come in at $4bn on an annual basis.

"Spotify has chosen a very unorthodox route to go public", he said. The company said, "we now do not have, and may never have, the requisite data available to adjust such key performance indicators and other metrics prior to January 1, 2017, and as a result, such key performance indicators and other metrics for such periods may be overstated".

Although we now recognized that some Spotify customers were navigating totally free account constraints making use of changed variations of the Spotify Android application, the hacks appear to be much more prevalent compared to formerly recognized. The company wants to reach 198 to 208 million active users by the end of the year. The gross margin should stay within the range of 23-25 percent over the full year, while the operating loss for the 12 months is expected at Euro 230-330 million. In 2017, Spotify reported charges on debt financing drove up operating losses to €378 million.

Two US Soldiers Killed in Helicopter Crash in Kentucky State
At the time of the news release, it was said that Fort Campbell Fire and Emergency Services were still at the scene of the crash. As of Thursday, the officials said Navy investigators had not been granted access to the alleged victims by local police.

The "core to Spotify's pitch to investors" is an expectation for gross margins to rise from 21 percent to 25 percent over time, according to Recode. That remains well off its long-term target of 30 to 35 per cent.

In an amended filing with the U.S. Securities and Exchange Commission, the company expects shareholders to sell up to 55.7 million ordinary shares.

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