Is Spotify set to launch in the Middle East?

Two Dubai-based jobs posted on the New York-listed company's website
Spotify, which went public last month on New York Stock Exchange, posted its first results as a listed company earlier this week. The company, valued at $30 billion, reported an operating loss of $49 million last quarter on sales of $1.36bn.
By Neil Halligan
Thu 03 May 2018 10:34 AM

Global online streaming service Spotify looks set to launch in the Middle East in the near future.

While the company has declined to comment on a possible launch date, the Swedish entertainment form recently posted three jobs related to the region, two of which are based in Dubai.

The ‘Senior Editor Middle East and Africa’ role indicates that when the platform launches in the region, it will have tailored content for the region.

In addition, Spotify is looking to recruit a ‘Technical Account Manager – Middle East & North Africa’, who will oversee the content supply chain for Middle East and North Africa.

“Based in Dubai, you’ll work cross-functionally with teams such as Artist & Label Services, Shows & Editorial, Licensing and technical teams within Spotify to ensure long-term success in this region and contribute to providing the best user experience possible,” reads the job description.

The other related position is New York-based - Senior Editor, Arab Music Culture.

In response to a media query on its possible launch in the region, a spokesperson for Spotify told Arabian Business, “Spotify's long-term goal is to be available in every country, but we don't have any news to share on future launches.”

Spotify, which went public last month on New York Stock Exchange, posted its first results as a listed company earlier this week. The company, valued at $30 billion, reported an operating loss of $49 million last quarter on sales of $1.36bn.

Despite posting a 45 percent jump in subscriptions during the quarter, it wasn’t enough to please its increasingly bullish investors.

Shares tumbled as much as 10 % in late trading Wednesday after the music-streaming service said it reached 75 million premium users last quarter, Bloomberg reported. Though the number matched Spotify’s projections, it wasn’t the breakout growth shareholders expected after a strong debut on the NYSE last month.

“Sometimes the market just gets stupid and just trades on its own momentum,” chief financial officer Barry McCarthy said in an interview.

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Last Updated: Thu 03 May 2018 11:18 AM GST

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