Spotify began as a startup in Stockholm, Sweden. Founders Daniel Ek and Martin Lorentzon developed the platform in an attempt to address the issue of piracy in the music industry. Daniel Ek said, “I realized that you can never legislate away from piracy,” so creating a platform in which every song was available to everyone while still compensating the songwriters, singers, producers, and bands listeners loved was critical to the future of the music industry. In 2008, Spotify officially launched with a free service with ads as well as an ad-free, subscription-based service, changing the way music listeners accessed their music. Spotify streams millions of songs, audiobooks, podcasts, and performances. The algorithms make for a listening experience that is customized to each individual. Functions like Discover Weekly curate a playlist every Monday based on what users are listening to lately with 30 songs that are brand new to the listener. Radio stations allow users to start a shuffled queue of songs based on their favorite artist, album, or song and hear more new music similar to their taste. Spotify also keeps it simple with the ability to download songs from the streaming platform onto your device and just listen to your favorites.
Spotify is setting the standard for modern music listening. The platform has 158 million subscribers, and 356 million monthly users, with over 70 million tracks of music and 2.6 million podcasts. Users come from all over the world, and have created 4 billion playlists. It is the world’s leading audio-streaming subscription service. In 2018, Spotify went public after 10 years of exponential success; it is listed on the New York Stock Exchange as SPOT. Spotify’s success has not only come from its industry-leading streaming services, but from its live content. Spotify Singles is a popular program that invites artists to play their songs live in studio. Performances are recorded and released to Spotify so audiences can enjoy the set long after it’s over. Spotify also helps artists publicize other live performances and shows on each artist’s page.
Spotify’s headquarters is still in Stockholm, and U.S. operations are based out of New York City. With 178 markets, Spotify is truly providing the soundtrack to modern life and continues to innovate how we listen to and interact with our favorite music.
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CEO: Daniel Ek
New York, NY
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