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Spotify's stock worth $23 billion?

Spotify's listing on the New York Stock Exchange could value the brand at $23 billion (£16.7 billion).

The Swedish firm - which is the world's most recognisable streaming service - has filed paperwork to start trading its shares publicly, and the price at which it is expecting to sell its share sees the total value for the company reach an eye-watering sum.

Spotify shareholders are set to take their shares straight to the market as a result of its direct listing, which differs slightly from the conventional approach.

Explaining the reasons behind this, Mark Mulligan, a music industry analyst at MIDiA Research, told the BBC: "It's about a company that is letting its investors get their returns so it can move on to the next stage of its career."

The streaming service first launched in 2008.

Since then, Spotify has become active in as many as 61 countries around the world and at present, the app has 71 million paid subscribers.

Despite its jaw-dropping share valuation, Kathleen Smith, principal at Renaissance Capital, has warned that the stock may sell for markedly less than has been suggested.

The industry expert highlighted to the example of Snap, the owner of Snapchat, to make her point.

While the firm had an almost $30 billion market capitalisation after its first day of trading, it's value has subsequently fallen away.

Reflecting on Spotify's situation, she said: "This could be an issue - could it possibly sustain those valuations?"

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