THE SPOTIFY FILE:
$1 BILLION IPO

Investors will be Ek-static: Spotify has filed for a $1 billion IPO with the SEC.

"Our mission is to unlock the potential of human creativity by giving a million creative artists the opportunity to live off their art and billions of fans the opportunity to enjoy and be inspired by these creators," reads the Swedish streamery's summary (say that three times fast).

Spotify shares will trade on the NYSE under the stock symbol SPOT. The company's stock (which was privately traded) has hitherto ranged in price between $90 and $132.50, according to the filing.

The filing's rundown details the company's big growth, particularly on the premium tier.

"We are the largest global music streaming subscription service," it reads. "Our premium service ('Premium Service') provides Premium Subscribers with unlimited online and offline high-quality streaming access to our catalog. The Premium Service offers a commercial-free music experience. Our ad-supported service (“Ad-Supported Service,” and together with our Premium Service, our “Service”) has no subscription fees and provides Ad-Supported Users with limited on-demand online access to our catalog. With a presence in 61 countries and territories and growing, our platform includes 159 million MAUs and 71 million Premium Subscribers as of December 31, 2017, which we believe is nearly double the scale of our closest competitor, Apple Music. "

"For the years ended December 31, 2015, 2016, and 2017, we generated €1,940 million, €2,952 million, and €4,090 million in revenue, respectively, representing a compound annual growth rate of 45%."

Spotify's filing naturally underscores the transformative economic impact of streaming on the biz, and its own role as the leader in that transformation. It also highlights the importance of user engagement on its platform, notably via playlists.

You can pore over the entire filing here.