Spotify finally admits it profits from COVID.
It must be said that there’s a real question of how many Taylor Swifts the business will sustain going forward if we don’t listen to the lesson she is teaching for those who care to pay attention and think outside the stream.
Already we see leaks to the tech press that Spotify is pushing off its IPO to next year while it pursues a “path to profitability”. Now that’s a new one–the company has previously told investors a growth story like many other startups. But unlike most other startups, Spotify now has a $1,000,000,000 convertible loan from private equity companies staring it in the face–along with what will no doubt turn out to be credit card interest rates when the total cost of the money is calculated–and that complicates the IPO picture.
Greg Sandoval is one of the great reporters on tech and music. While I don’t always agree with him, I think he’s fair and one thing I know for sure–he is old school when it comes to getting facts and sources right. So when Sandoval says Spotify is going back to the well to drive […]