However, the music streaming service is also facing questions over profitability and increasing competition from rivals, particularly from Apple Music, the music streaming service offered by consumer electronics giant Apple.
Amid Spotify's methodical wait to list, MIDiA Research managing director Mark Mulligan called Tuesday "arguably the most anticipated day in the history of digital music". Investors considering buying shares should take a long-term view and ensure their holding is only a small part of a well-diversified portfolio, ' commented Laith Khalaf, senior analyst at stock broker Hargreaves Lansdown. However, reports suggest that Apple Music isn't far behind Spotify in the USA and is expected to surpass 36 million paid subscribers globally by the summer.
The company even chose Scandinavian minimalism for the listing - no executive turned up to fly the company's flag for the debut, and it turned down the tradition of new companies ringing the opening bell at the New York Stock Exchange.
We expect Spotify's operating costs to increase going forward, but at a slower pace relative to revenues over the next two years.
Analysts had anxious ahead of Spotify's direct listing that forgoing underwriters and traditional promotional events created to stimulate interest from institutional investors could mean volatility once formal trading kicked off.
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That means the $97.30 gain is exclusively to Sony, and was calculated after the company made royalty payments to artists and indie labels.
Spotify's IPO made for an exciting day on Wall Street. Although it's growth may seem healthy, experts have warned that "price volatility" is expected due to Spotify's unusual "direct listing" approach to flotation.
With a couple of exceptions, Spotify's investors were free to unload their shares in the almost 12-year-old company.
"Normally, companies don't pursue a direct listing". 'Tomorrow does not become the most important day for Spotify.
At the end of past year, Spotify counted 159 million monthly users of which 71 million are premium subscribers.