Spotify is a Swedish audio streaming and media services provider founded on 23 April 2006 by Daniel Ek and Martin Lorentzon. It is the world's largest music streaming service provider, with over 381 million monthly active users, including 172 million paying subscribers, as of September 2021. Spotify is listed (through a Luxembourg City-domiciled holding company, Spotify Technology S.A.) on the New York Stock Exchange in the form of American depositary receipts.
Spotify offers digital copyright restricted recorded music and podcasts, including more than 70 million songs, from record labels and media companies. As a freemium service, basic features are free with advertisements and limited control, while additional features, such as offline listening and commercial-free listening, are offered via paid subscriptions. Spotify is currently available in 180+ countries as of October 2021. Users can search for music based on artist, album, or genre, and can create, edit, and share playlists.
Spotify is available in most of Europe and the Americas, Oceania, with a total availability in 184 markets. The service is available on most modern devices including Windows, macOS, and Linux computers, iOS and Android smartphones and tablets, AI-enabled smart speakers such as Amazon Echo and Google Home, and digital media players like Roku.
Unlike physical or download sales, which pay artists a fixed price per song or album sold, Spotify pays royalties based on the number of artist streams as a proportion of total songs streamed. It distributes approximately 70% of its total revenue to rights holders (often record labels), who then pay artists based on individual agreements. According to Ben Sisario of The New York Times, approximately 13,000 out of seven million artists on Spotify generated $50,000 or more in payments in 2020.
Spotify announces the launch of a new feature designed to provide a live-show experience remotely, the shows run 40-75 minutes and run $15 each.
It lets its 6,550 global employees choose where they want to work at the company, either in an office, remotely, or at a co-working space which the company will pay for.
A Brief History Of Spotify: Gustav Söderström
January 10, 2019
Interview with Spotify CEO Daniel Ek | POLITICO Playbook Live
October 10, 2018
Stream On: Intro from Daniel Ek
February 22, 2021