Spotify's plans for an IPO may not be music to Wall Street. The music-streaming service is expected to go public this year, but the company is considering not holding a public sale of shares, according to The Wall Street Journal.

The company, which was last valued at $8.5 million in June 2015, is exploring a direct listing, where shares would list on a exchange. That means the company wouldn't have to raise money or use underwrites to sell stock.

While the tactic is advantageous for Spotify and its investors, it could save the company tens of millions of dollars in underwriting fees and allow executives to publicly praise the firm ahead of the listing. Unlike a traditional IPO, this could be an important experiment for other tech unicorns and create a new path for the startups with access to cash to shift into the public domain.

While the approach may be a sweet song for startups, it could be trouble for Wall Street. Other companies are already taking unconventional paths for their IPOs: Uber raised money privately and Snap negotiated a large cut in fees.

Spotify has raised more then $1 billion in equity, and is aiming for a valuation of more than $10 billion, according to The Wall Street Journal. It could list its shares on a U.S. exchange as soon as September.