An in-depth report posted by "Music Business Worldwide" gives an overview on tne present of Spotify and uncovers some very juicy details regarding the company’s past.
The report starts unveiling the number of Spotify stakes bought by majors in 2008 and explains:
- (i) The major labels plus Merlin were given a total of 352,176 shares in Spotify in 2008 for an (amazingly cheap) nominal sum of €8,804.40;
- (ii) Spotify’s total share count at the time, after the issuance of the music companies’ shares, was 1,956,531;
- (iii) The relevant parties – Sony BMG, Universal, Warner, EMI and Merlin – were each given a round number % slice of Spotify’s 1,956,531 shares. In total, the group received an 18% equity holding in Daniel Ek’s firm.
MBW goes on trying to figure out how much Merlin cashed in recently selling its shareholding.
You can read the full report here.
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