ABSTRACT
April 3, 2018, Spotify went public using a direct initial public offering in which it bypassed investment banks and other intermediaries to list its shares directly with the New York Stock Exchange. Spotify and Apple have competed fiercely for the music streaming market since Apple Music entered the market. In mid-2016, Spotify began making songs and albums launched on Apple’s platforms more and more difficult to find on the Spotify platform. Spotify then accused Apple of blocking the Spotify app from the iTunes store in retaliation. The competitive and innovative nature of the music streaming business led to Spotify’s expansion into new areas of the industry. Three key areas of expansion were concerts and merchandise, original content, and smart audio hardware. Spotify can also build on its product offerings by entering the hardware market, like Apple, the parent company of Apple Music, Amazon and its Amazon Devices division, and Snapchat with Spectacles.
