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Spotify, Music for Everyone: The meteoric rise of the world’s top streaming service
By 50minutes
Rating: 3 out of 5 stars
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About this ebook
Find out how Spotify changed the way we listen to music in just 50 minutes!
Spotify is a music streaming service which was launched in 2008. Its freemium business model, which allows users to choose between listening to music for free or paying a monthly subscription to access an ad-free version of the site, has attracted 140 million active users (of whom 60 million are paying subscribers) to the site, and has generated billions of dollars in revenue, although the site continues operating at a net loss and has drawn heavy criticism from other major players in the music industry. In this concise and accessible guide, you will find out how Spotify revolutionised music lovers’ listening habits, and discover how other key players in the music industry are reacting to this change.
In 50 minutes you will:
•Learn about Spotify’s history, from its launch in 2008 right up to the present day
•Understand the site’s freemium business model
•Discover the how the rise of streaming has affected the music industry
ABOUT 50MINUTES | BUSINESS STORIES
The Business Stories series from the 50Minutes collection provides the tools to quickly understand the innovative companies that have shaped the modern business world. Our publications will give you contextual information, an analysis of business strategies and an introduction to future trends and opportunities in a clear and easily digestible format, making them the ideal starting point for readers looking to understand what makes these companies stand out.
Spotify is a music streaming service which was launched in 2008. Its freemium business model, which allows users to choose between listening to music for free or paying a monthly subscription to access an ad-free version of the site, has attracted 140 million active users (of whom 60 million are paying subscribers) to the site, and has generated billions of dollars in revenue, although the site continues operating at a net loss and has drawn heavy criticism from other major players in the music industry. In this concise and accessible guide, you will find out how Spotify revolutionised music lovers’ listening habits, and discover how other key players in the music industry are reacting to this change.
In 50 minutes you will:
•Learn about Spotify’s history, from its launch in 2008 right up to the present day
•Understand the site’s freemium business model
•Discover the how the rise of streaming has affected the music industry
ABOUT 50MINUTES | BUSINESS STORIES
The Business Stories series from the 50Minutes collection provides the tools to quickly understand the innovative companies that have shaped the modern business world. Our publications will give you contextual information, an analysis of business strategies and an introduction to future trends and opportunities in a clear and easily digestible format, making them the ideal starting point for readers looking to understand what makes these companies stand out.
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Book preview
Spotify, Music for Everyone - 50minutes
Key information
Founders: Daniel Ek (Swedish entrepreneur, born in 1983) and Martin Lorentzon (Swedish engineer, born in 1969).
Founded: Spotify was originally founded in Sweden in 2006 and has been available to the public since 7 October 2008 (when it was launched in Sweden, Great Britain, France, Spain, Finland and Norway).
Sector: entertainment, music and video.
Marketing area: as of 2017, Spotify is now available in over 60 countries worldwide, having launched in the United States in 2011 and in Latin America and parts of Asia in 2013.
Number of users: as of October 2017, Spotify has over 140 million active users, of whom over 60 million (i.e. 42%) are paying subscribers.
Annual turnover: over $3.3 billion in 2016, compared with $2.18 billion in 2015, with subscriptions accounting for around 90% of revenue and advertising accounting for the remaining 10%.
Key terms:
Freemium: this portmanteau of the words free
and premium
was first used by the American investor and blogger Fred Wilson in 2006. It denotes a commercial service which offers both a basic version which is free to access and use, and a premium
version which offers more advanced features to paying users. The free version is often financed by advertisements and can attract users who are eventually persuaded to sign up for the paid version.
Premium: a premium service is an enhanced version of the basic service offered by a service provider using a freemium
business model. The premium service is usually significantly more expensive. On Spotify,
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