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Coca-Cola’s Investment In Spotify Is Reaping Rewards

April 2, 2018: 12:00 AM EST
Coca-Cola and other early investors in Spotify were bound to make a profit when the music-streaming service went public on April 3. Coke reportedly invested $10 million in 2012, when Spotify’s valuation was about $3 billion. The investment marked “a watershed moment for the intersection of brands, tech and music,” according to Billboard magazine. Major brands were used to spending millions on sports sponsorships, while music sponsorship was experimental. Coca-Cola partnered with Spotify because it believed in co-founder Daniel Ek’s vision of cloud-based access to all music, and the goal of global reach, “an area where Coca-Cola could help Spotify expand.” It was a good bet. Coke’s early ante could be worth as much as $100 million-$150 million, though it will be a while before the share price settles. 
Andrew Hampp , "How Coke's $10 Million Spotify Investment Will Pay Off For Music, Brands & Tech", Billboard, April 02, 2018, © Billboard
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