Spotify Launches in Israel, South Africa Ahead of IPO
Spotify has expanded its global footprint, just three weeks before it debuts on the New York Stock Exchange. The music streaming leader announced on Tuesday it has opened up shop in Israel, Romania…
Spotify has expanded its global footprint, just three weeks before it debuts on the New York Stock Exchange. The music streaming leader announced on Tuesday it has opened up shop in Israel, Romania, South Africa and Vietnam, bringing its territory count to 65 markets worldwide.
Subscription prices in the new territories vary, though music fans won’t be paying as much as the global average of $10/€10 per month. In Israel, the price of a monthly membership is 19.90 shekels, or $5.78; South Africans will pay 59.99 rand per month, or around $5; and Romanians can listen for 4.99 euro, or roughly $6.20 — less than most of their European neighbors. The price in Vietnam is unclear. Of course, there is also the free tier.
In Israel, English-language music is available starting today, while songs in Hebrew will follow in the coming weeks. A press conference in South Africa is scheduled for today to offer more details on the launch there.
“We’re really excited to bring Spotify to Israel, Romania, South Africa and Vietnam, connecting their rich music cultures with millions of artists and users across the world,” said Cecilia Qvist, global head of markets at Spotify.
Spotify filed to go public last month, revealing 46 percent year-over-year growth to 71 million subscribers in 2017, out of 159 million total monthly active users. On Monday, Billboard confirmed that the company will list its shares on the NYSE the week of April 2.