Global InformationSpotify information
 | |
| Type of business | Public |
|---|---|
| Traded as |
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| Founded | 23 April 2006 |
| Headquarters | Stockholm, Sweden[1][2] |
| Country of origin | Sweden |
| No. of locations | 15 offices[2] |
| Founder(s) |
|
| Key people | Daniel Ek (Chairman & CEO) Martin Lorentzon (treasurer) |
| Industry |
|
| Revenue |  €13.25 billion (2023)[3] |
| Operating income |  €–446 million (2023)[3] |
| Net income |  €–532 million (2023)[3] |
| Total assets | €8.35 billion (2023)[3] |
| Total equity | €2.52 billion (2023)[3] |
| Employees | 7,721 (March 2024)[4] |
| Subsidiaries |
|
| URL | spotify |
| Registration | Required |
| Users |
|
| Launched | 7 October 2008 |
Spotify (/ˈspɒtɪfaɪ/; Swedish: [ˈspɔ̂tːɪfaj]) is a Swedish[6] audio streaming and media service provider founded on 23 April 2006 by Daniel Ek and Martin Lorentzon.[7] It is one of the largest music streaming service providers, with over 615 million monthly active users, including 239 million paying subscribers, as of March 2024.[4][8] Spotify is listed (through a Luxembourg City-domiciled holding company, Spotify Technology S.A.[1]) on the New York Stock Exchange in the form of American depositary receipts.
Spotify offers digital copyright restricted recorded audio content, including more than 100 million songs and six million podcast titles, from record labels and media companies.[8] 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, as well as Africa, the Americas, Asia, and Oceania, with a total availability in 184 markets.[9] Its users and subscribers are based largely in the US and Europe, jointly accounting for around 53% of users and 67% of revenue.[10] It has no presence in mainland China where the market is dominated by QQ Music. The service is available on most devices, including Windows, macOS, and Linux computers, iOS and Android smartphones and tablets, smart home devices such as the Amazon Echo and Google Nest lines of products, and digital media players like Roku.[11]
As of December 2023, Spotify was the 47th most-visited website in the world with 24.78% of its traffic coming from the United States followed by Brazil with 6.51% according to data provided by Semrush.[12][13]
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.[14] While certain musicians have voiced objections to Spotify's royalty structure and its effect on record sales, others laud the service for offering a lawful option to combat piracy and for remunerating artists each time their music is played.[15]
- ^ a b c d e f "20-F". 20-F. Archived from the original on 6 February 2021. Retrieved 13 March 2021.
- ^ a b "About us". Spotify. Archived from the original on 7 October 2021. Retrieved 29 June 2021.
- ^ a b c d e f "Form 20-F". US Securities and Exchange Commission. 8 February 2024. Archived from the original on 13 February 2024. Retrieved 13 February 2024.
- ^ a b "Spotify Technology S.A. Q3 2023 update". U.S. Securities and Exchange Commission. Archived from the original on 4 December 2023. Retrieved 4 December 2023.
- ^ "Spotify AB". Legal Entity Identifier. Archived from the original on 26 May 2021. Retrieved 10 March 2021.
- ^ "Contact". Spotify. Archived from the original on 9 July 2016. Retrieved 20 February 2022.
- ^ "Spotify UK revenues surge to almost £190m as mobile subscriptions take off". The Guardian. 14 October 2016. Archived from the original on 17 July 2022. Retrieved 6 August 2021.
- ^ a b "Company Info". Spotify For the Record. 31 March 2024. Archived from the original on 30 September 2019. Retrieved 2 February 2022.
- ^ "About Spotify". Spotify. Archived from the original on 30 September 2019. Retrieved 10 January 2022.
- ^ "Spotify Q3 2022 investor presentation" (PDF). Archived (PDF) from the original on 23 November 2022. Retrieved 7 January 2023.
- ^ "Spotify Music". Roku Channel Store. Roku. Archived from the original on 28 September 2020. Retrieved 12 November 2018.
- ^ "Top websites". Semrush. Archived from the original on 19 December 2023. Retrieved 25 December 2023.
- ^ "spotify.com". semrush. Archived from the original on 25 December 2023. Retrieved 25 December 2023.
- ^ Sehgal, Kabir (26 January 2018). "Spotify and Apple Music should become record labels so musicians can make a fair living". CNBC. Archived from the original on 24 February 2020. Retrieved 21 November 2018.
- ^ Swanson, Kate (2013). "A Case Study on Spotify: Exploring Perceptions of the Music Streaming Service". Journal of the Music and Entertainment Industry Educators Association. 13 (1): 207–230. doi:10.25101/13.10. Archived from the original on 1 December 2023. Retrieved 5 November 2023.