Investing.com - The jump in Spotify's paying subscriber base paves the way for the music provider to list its shares.
The Swedish company said Monday it had 60 million paid users in July, up from 50 million in March.
It has added some 20 million paid users in less than a year and is available in some 60 countries after its start up in 2008.
(NASDAQ:Apple) Music has paid subscribers of some 27 million as of June.
Spotify this year also signed key licensing agreements with Universal Music Group and (Sony:6758).
The company reportedly may seek a so-called "direct listing" rather than an initial public offer of shares.
That would avoid IPO costs, leaving the door open for a subsequent secondary issue of shares.
The timing of the listing is expected to be some time before the end of this year.
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Spotify subscriber jump paves way for listing
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