The Business Model of Spotify
Spotify is a Swedish audio streaming and media services company created by Daniel Ek and Martin Lorentzon on 23 April 2006. As of June 2021, it is one of the world's largest music streaming services, with over 365 million monthly active users, including 165 million paid members. Spotify is listed on the New York Stock Exchange in the form of American depositary receipts (via a Luxembourg-based holding company, Spotify Technology S.A.). Spotify provides digital copyright-restricted recorded music and podcasts from record labels and media firms, including over 70 million songs. As a freemium service, basic functions such as offline listening and limited control are available for a fee, while further features such as commercial-free listening and offline listening are available via paid subscriptions. Users can do artist, album, or genre searches and build, update, and share playlists.