Spotify is coming to Vietnam: statement

Spotify is bringing its streaming business to Vietnam in three days, according to a Facebook statement posted on Saturday which went viral in several hours.

“More than 35 million songs are on their way to you,” said a post published on Spotify Vietnam’s official Facebook page.

“The world’s biggest music streaming service will be in Vietnam in three days,” it said, attracting thousands of likes, shares and comments.

Many people hailed the arrival as the end of fake IP addresses.

More competition is expected and some people are already considering switching from Apple Music or the Vietnamese service Zing MP3.

Sources close to Spotify revealed its expansion plans in Vietnam and Thailand in May last year. The Thai launch happened last August, but there has been a longer wait for users in Vietnam, where more than 50 million people are online.

Spotify boasted 71 million paying subscribers and 159 million active users by the end of last year. The Swedish company is planning to list on the New York Stock Exchange in the coming weeks and its founder estimated it could be valued at more than $20 billion.

Tech insiders believe the 10-year-old service can transform the music industry the same way as Netflix overturned Hollywood.