Spotify is a Swedish audio streaming and media services provider.

Basic Information

Spotify is the world's largest music streaming service provider, with over 365 million monthly active users, including 165 million paying subscribers. 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. 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 and more than 40 countries in Africa. The service is available on most modern devices including Windows, macOS, and Linux computers, iOS and Android smartphones and tablets and AI enabled smart speakers such as Amazon Echo and Google Home. 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. See more

Headquarters

:

Stockholm, Stockholm, Sweden

Founding Date

:

23rd Apr 2006

No. of Employees

:

1000+

Core Team

:
1.

Daniel Ek

Co-founder & CEO

2.

Martin Lorentzon

Co-Founder

Funding

Investors

:

1.

Manhattan Venture Partners

2.

Goldman Sachs

3.

Tencent Music Entertainment