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Business News Digital
Spotify practicing earnings calls ahead of IPO
By Andy Malt | Published on Tuesday 24 June 2014
Spotify is getting in shape for its rumoured IPO with practice earnings calls, according to Quartz.
Of course, if and when Spotify floats and becomes listed on a New York (probably) stock exchange, management will be obliged to regularly update investors on how the business is doing, how the hell streaming music is ever going to make a profit, and why YouTube is getting preferential rates from some rights owners.
The company reportedly held a “dry run” earnings call in May to discuss second quarter results with a number of investors and representatives of Morgan Stanley, Goldman Sachs and Deutsche Bank, amongst others. This apparently resulted in the company’s credit being extended to $200 million, so it wasn’t a complete waste of time.
Quartz reckons the IPO could be coming as early as the autumn of this year.
