Spotify replaces Kate Vale with Jane Huxley

Spotify replaces Kate Vale with Jane Huxley

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It has been reported that Spotify has new managing director for its operations in Australia. The company named Jane Huxley in replacement of Kate Vale who left earlier this year to “pursue opportunities outside of the business”. Huxley is a former MD of rival streaming service Pandora, which ended its activities in the country earlier this week.

With more than 60 million paying subscribers, the Spotify music streaming service operator continues to build on its position as a market leader.

“For more than 25 years Jane has built a career based on innovation, media, technology and disruption, and is a respected and awarded business leader,” said Stefan Blom, Spotify’s chief content officer.

On Tuesday, Stockholm-based company updates its subscriber data on its site. In March Spotify boasts 50 million paying customers – a 25% growth in less than six months. Thus, Spotify has managed to attract 10 million paying customers since the beginning of March.

The number of registered users who can use the service without paying has not been updated and remains 140 million.

Competitor Apple Music remains far behind, with the latest iPhone data maker’s service estimated to have 27 million subscribers.

Spotify, which recently appointed financial consultants to investigate the possibility of direct listing on the New York Stock Exchange, said in June that the operating loss had risen in 2016, but revenues have risen significantly.

Last week, Reuters announced that Spotify is close to signing a new license agreement with Warner Music Inc., the latest major deal with a music studio it needs before continuing its efforts to list the US stock exchange.

Meanwhile, a company spokeswoman declined to comment on a Financial Times paper, according to which the Swedish concern is considering listing in the fourth quarter. The financial media relies on sources familiar with what’s happening in the company.

In recent years, the music industry has switched to a paid subscription model, as more people are willing to pay about 10 euros a month to access 30 million songs through services such as Spotify. The growing popularity of music streaming is driving this reversal in music revenue, with world music sales last year rising at the fastest pace since 1997.

 

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I cover technology, utilities and biotechnology for Markets Morning, and I help out occasionally with other industry sectors. I've written about investment and personal finance topics for more than 20 years from a lowly copywriter to editor-in-chief, so I've done a little bit of everything. For what it's worth, I have a BA from Duke University and an MBA from Rollins College. I'm married with one daughter, and that's worth more than everything else put together.

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