Spotify will be a direct listing on the NYSE when it goes public, forgoing a traditional initial public offering sources told CNBC. The streaming music service is valued at $13 billion, according to sources. The listing is expected between the fourth quarter of 2017 and first quarter of 2018. Morgan Stanley, Goldman Sachs, and Allen & Co. are advising on the listing, the sources added. The company currently has 50 million subscribers, and a 43 percent growth rate in revenue.