By Sven Grundberg – via Wall Street Journal
Spotify is set to launch its popular music-streaming service in Canada, and has further plans to possibly expand into Asia and South America, according to the Anglo-Swedish company’s recently published annual accounts.
The accounts of Spotify’s holding company—Luxembourg-based entity Spotify Technologies SA—were made available earlier in August. The annual account filing contains a management report, dated April 23 this year, where Spotify said a launch on the Canadian market is planned. Spotify said this move will further consolidate its position as the world’s largest music-streaming service, and added that it may seek to expand into “countries in Asia and South America.”
Last year, Spotify established subsidiaries in Canada, Singapore and Hong Kong, all places where its service isn’t yet available. Spotify is currently available in 15 countries, including the U.S., the U.K. and Germany, and recently launched in Australia and New Zealand. Company spokeswoman Sofie Grant declined to elaborate on the details of the company’s expansion plans, but said Spotify “of course plans to launch in new countries.”
Read full story at WSJ.com