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Spotify enters South African market - 11 months ago, 13 Mar 07:33

By: Reuters

Global music streaming provider Spotify is set to launch its services in South Africa on Tuesday, marking its entry into Africa, where there is a rapid uptake of smartphones and improving telecommunications infrastructure. The Swedish company, launched in 2008 and available in more than 60 countries, is the biggest music streaming company in the world and counts services from Apple Inc, Amazon.com Inc and Alphabet Inc’s Google Play as its main rivals. The South Africa launch comes as Spotify prepares for a direct listing for its shares on the New York Stock Exchange, which will let investors and employees sell shares without the company raising new capital or hiring Wall Street banks to underwrite the issue. Further details about the South Africa service, pricing and content will be announced on Tuesday, the company said. An increase in connectivity across South Africa, helped by higher investment in infrastructure, as well as ...
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