Who owns Spotify?

In 2006, Daniel Ek, A young Swedish entrepreneur, tired of the music piracy that plagued the industry, decided to create a legal and attractive alternative. Together with Martin Lorentzon, co-founder of TradeDoubler, with whom they put ideas together and gave life to Spotify, a platform that promised unlimited access to millions of songs in exchange for a monthly subscription.

However, it was not until October 2008 that Spotify finally saw the light, making its official launch in Sweden, Finland, France, the United Kingdom and Spain. The reception was positive and, little by little, the platform expanded to other countries in Europe and America.

Currently, Spotify is available in more than 184 countries, with more than 590 million active users, of which 226 million are paying subscribers.

But, What is the strategy behind your success? Spotify has not limited itself to offering music. In 2019, the platform entered the world of podcasts, creating a new source of income and diversifying its catalog. Added to this are music videos, available since 2020, and strategic alliances with companies such as Roblox, Fútbol Club Barcelona or the podcast platform Megaphone.ana.pt

The owners of Spotify: Daniel Ek and Martin Lorentzon

Although Spotify has been listed on the stock market since 2018, its main owners remain its founders: Daniel Ek, CEO of the company, and Martin Lorentzon. Ek owns 15.3% of the common shares and 30.5% of the voting power, while Lorentzon controls 8.6% of the common shares and 19.8% of the voting power.

Spotify has revolutionized the way we consume music. However, the company faces challenges such as competition from other streaming platforms, controversy over payments to artists and the need to continue innovating to maintain its leadership.