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Spotify

Spotify

Spotify is a platform for listening to music and podcasts founded in 2006 by Daniel Ek.

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.

Timeline

June 17, 2021
Spotify announces its acquisition of Podz.
June 16, 2021
Spotify's live audio app, Greenroom, formally launches on iOS and Android, marking the company's first real attempt at creating a social media platform.
June 2, 2021
Spotify launches Wrapped-like audio 'birth chart' experience.
May 21, 2021
Spotify adds offline music downloads on Apple Watch.
May 19, 2021
Spotify launches a virtual concert series with The Black Keys and other artists.

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.

April 28, 2021
Spotify launches paid subscription platform for podcasts
April 13, 2021
Spotify launches $80 Car Thing device for drivers.
March 30, 2021
Spotify acquires live audio app Locker Room creator Betty Labs to launch its own Clubhouse competitor.
February 22, 2021
Spotify announces beta launch of audience development tool for artists, self-serve 'Marquee' ads.
February 12, 2021
Spotify announces its Work-From-Anywhere program.

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.

Funding rounds

Acquisitions

Invested in

Patents

Further reading

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

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

News

Title
Author
Date
Publisher
Description
Lata Jha
September 28, 2021
mint
Home to over 2.6 million podcast titles from across the world, Spotify currently hosts over 36 originals from India
Sarah Perez
September 8, 2021
TechCrunch
A number of Spotify playlist curators are complaining that the streaming music company is not addressing the ongoing issue of playlist abuse, which sees bad actors reporting playlists that have gained a following in order to give their own playlists better visibility. Currently, playlists created by Spotify users can be reported in the app for [...]
The Associated Press
September 2, 2021
CTVNews
Apple will allow companies such as Spotify and Netflix to direct customers to their own websites to make payments, allowing them to more easily avoid fees levied by the App Store.
Sarah Perez
August 31, 2021
TechCrunch
Spotify today is officially rolling out its shared playlist feature called Blend to global users, with a few changes. Earlier this summer, Spotify had first launched the new shared playlist experience into beta testing. The feature, which allows two people to combine their favorite songs into one shared playlist, uses the same music mixing technology [...]
August 26, 2021
WebWire
London's annual Notting Hill Carnival is a 55-year-old celebration of the United Kingdom's Caribbean community--one full of parades, food, and, of course, music. For the second year in a row, Spotify is supporting the festivities virtually with the Carnival Sounds 2021 Microsite in collaboration with Notting Hill Carnival. This year's site continues to celebrate everything fans love about Carnival and features brand-new content encompassing written, audio, and musical content from i...
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References

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