But if it waits too long before floating, it could face a serious cash crisis.
In March last year, the firm raised $1bn from investors at an interest rate of 5% a year, plus a discount of 20% on shares once the initial public offering (IPO) of shares takes place.
However, under the terms of the agreement, the interest rate goes up by one percentage point and the discount by 2.5 percentage points every six months until the IPO happens.
So as time goes on, Spotify must pay ever larger sums to its creditors just to settle the interest on its loan, while the amount of money it can raise from its IPO is trimmed by an ever greater amount.
Unless Mr Ek can get the better of this brutal arithmetic, the future looks tough for Spotify.