The Swedish music streaming platform Spotify is considered to be a super popular music streaming service that is available in most countries of the world for a reason. The number of paid subscribers has exceeded 170 million people. And this is not surprising, because this music platform is supported by all operating systems, smartphones and even car media systems. It also owes its popularity to its huge audio and video library. But that’s not all. Music lovers also appreciate this service for its intuitive interface, high quality of recorded tracks, interesting updates and amazing customization of the smart profile for its owner.
All this was made possible thanks to two businessmen friends from Sweden, Daniel Ek and Martin Laurentson, who in 2006 became the founding fathers of the Spotify.com domain and immediately began negotiations with recording studios. At the same time, partners initially refused third-party investments. There were many who wanted to participate in the project, but their conditions seemed unfavorable to Ek, and Martin fully supported his friend.
As a result, the initial investment consisted almost entirely of Laurenston’s investments. The idea was immediately presented to the public as a salvation from audio piracy with the ability to listen to your favorite music without any special restrictions. In addition, Ek and Laurenston had already shown themselves to be talented businessmen at that time, and Sweden, which gave birth to a start-up, enjoyed an impeccable reputation around the world, including in the field of information technology. Therefore, Spotify AB was founded in June 2006, and in August the first office was opened in Stockholm. By 2010, Spotify was available in more than ten European countries.
Over time and with great effort, which required a great concentration of forces from the founders of Spotify and the adoption of non-standard decisions, the American market was also opened. Profit was not long in coming. It should be noted that the fight for the American market potifay continues today. The main competitor of the Swedish music streaming service, both worldwide and in the United States of America, is a product of Applemusic Corporation from Cupertino.
The fact is that it is in the US market that Spotify’s leadership is challenged by the apple music streaming service. Considering that Applemusic works perfectly and shows itself very effectively in the ecosystem of gadgets from Apple, most of their users use it. Statistics say that about half of the population of the United States of America use devices from Apple. It’s no secret that they can not be called cheap. But the average American can afford it, unlike, for example, the average Indian. Nevertheless, Spotify occupies a worthy place in the world’s largest American music market.
To date, it is Daniel Ek and Martin Lorenzon who continue to be the main founders of Spotify, despite the fact that companies such as Sony Music Entertainment, Tencent Music Entertainment, Bailey Gifford and Morgan Stanley have now joined them.
Now the company has overcome almost all contradictions with both artists and labels – it has spread to almost 200 countries of the world, and its assets are estimated at $ 34 billion. Despite the fact that in 2016 Laurentson ceded the official post of CEO to Ek, the development strategy has not changed – the streaming service continues to introduce new features, and the number of users is only growing.