Spotify is 15% owned by major labels

Swedish web mag IDG reports today the true cap table for Spotify which reveals the holdings of each of the majors in what looks like an industry-standard content for equity deal.

Spotify cap table

As an addendum to my thinking yesterday, this makes much more sense – although it still leaves open to speculation who this “strategic industry partner” might be…. And whether the labels will  be taking advantage of their alleged “put options”.


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