Fidelity said among its customers, baby boomers were slightly more active in trading Spotify shares than Millennials or members of Generation X. Baby boomers made almost one-third more trades than Millennials and 20 percent more trades than members of Generation X. Its biggest rivals are Apple Music - which dominates the digital downloads market - Amazon, Google, and smaller streaming services like the French company Deezer and Pandora and Jay Z's Tidal in the US.
In comments made to US News & World Report, Michael said, "The direct listing is a focal point for other cash-rich companies who don't need to use the capital markets to raise money but still are seeking an alternative path to liquidity".
A New York Times article confirmed that the first day of trading was a success and Spotify finished with a valuation of $26.5 billion. According to Swedish online stock broker Nordnet, 14 percent of Swedes are interested in investing in the Spotify share.
Personal details stored online are being hacked and then sold off - allowing the purchaser to access someone's subscription to Spotify for a tiny fraction of the above-board pricetag, says the Dark Web Market Price Index.
Despite reporting a loss of $1.5 billion previous year in the wake of profitability challenges, Ek remains optimistic about the future of Spotify.
The service already hosts podcasts and radio shows, and it's easy to imagine Spotify will eventually venture into more exclusive content, akin to Taylor Swift's Spotify-only music video for her newest single, "Delicate".
The streaming service also faces stiff competition, as market giants like Apple seek their own expansion in the marketplace. On a comparable basis the Apple Music service has 46 million subscribers.
CEO Daniel Ek, who owns just over 9 percent of the music streaming company, is now sitting on about $2.3 billion of Spotify stock at its current price. It's not really been a good time for technology stocks, but on the day of Spotify's debut the Nasdaq closed up 1.06%.
The unusual listing thus added to the suspense over how Spotify would fare on the market as the company has yet to turn a profit. To date, the platform has 71 million premium subscribers.
"Normally, companies don't pursue a direct listing".
- President Trump goes after a favorite target, Amazon
- Miami Open: Isner, Zverev to fight for men's crown
- NYPD Blue producer dies at age 74
- Kevin Love (concussion) will play on Friday for Cleveland
- Conor McGregor Responds In Typical Fashion To Tony Ferguson's Injury
- Sinclair Media Forced It's Anchors To Wage War on "Fake News"
- Winter holding on for dear life
- Philander bowls SA to historic win
- Heaviest April snow storm in 12 years hits NYC
- Buy Analyst Rating?: Intel Corporation