Spotify shares rise on reports of 1 million new users | Fin24
 
In partnership with
Loading...

Spotify shares rise on reports of 1 million new users

Mar 06 2019 19:02
Kamaron Leach, Bloomberg

Spotify Technology SA gained the most in seven weeks after reports that the music streaming service has already added more than one million users in India.

The shares rose 3.7% at 3:42 pm in New York, on pace for their biggest gain since January 14.

Billboard reported on Monday afternoon that the music streaming service signed up more than a million unique users for free and premium offerings less than a week after launching in India.

India has been regarded as the next go-to market for streaming services as local telecom providers have poured billions of dollars into bringing the country online.

Netflix has also identified the region as a key growth opportunity. More than 150 million people have broadband connectivity, mostly via mobile devices.

spotify  |  ict  |  companies
NEXT ON FIN24X

 
 
 
 

Company Snapshot

#MINIBUDGET2019

Struggling power utility Eskom will take centre stage at this year's mini budget
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote

Loading...