Spotify
Address: 
Regeringsgatan 19, 111 53 Stockholm, Sweden
Spotify is a Swedish audio streaming and media service provider founded on 23 April 2006 by Daniel Ek and Martin Lorentzon. As of December 2024, it is one of the largest providers of music streaming services, with over 678 million monthly active users comprising 268 million paying subscribers. Spotify is listed on the New York Stock Exchange in the form of American depositary receipts. Wikipedia
Website: spotify.com
Symbol: NYSE:SPOT
Owns
Latest news
- May 2: In Nov 2021, Spotify acquired Findaway, an audiobook distributor. The company will close in August; Spotify distribution will be done by Spotify for Authors, while a new company, called INaudio will take over its non-Spotify distribution business.
- May 1: Spotify is running the first ever Mexico Podcast Awards and has announced the nominees. The winners will be announced on Jun 4. When we looked last year, Spotify had 91% market share for podcast downloads in the country.
- Apr 30: Spotify released its Q1/25 financial update. Making more than US$1.4bn profit in the quarter, the company saw a year-on-year growth of 10% monthly-active users to 678 million; 12% growth in premium subscribers (268 million), and 15% growth in total revenue (US $4.7bn). In the prepared comments to investors, Daniel Ek raised concerns about increased economic uncertainty in the world; and bragged that the company can now add new features to their apps six times faster.
- Apr 29: Spotify says that they paid out $100mn to podcasters in Q1/25. (That’s both ad-based revenue and from the Spotify Partner Program; the company haven’t split out the two).
- Apr 28: Chinese podcasting company Ximalaya is reportedly to be acquired by Tencent Music for $2.4bn, reports Bloomberg. (Spotify bought Anchor for just $140mn). Ximalaya, which claimed more than 303mn monthly active users in 2023, spent $100mn on a US expansion in 2019 (though it may not have done); the company tried to float on the NYSE, but didn’t, and was going to float in Hong Kong, but hasn’t.
Data credits: Google Maps, Podnews newsletter, Wikipedia