Spotify Technology S.A. Stock Price Today (SPOT)
2023.02.24 13:57
Daniel Ek and Martin Lorentzon founded Spotify, a private Swedish provider of audio streaming and media services, on April 23, 2006. As of December 2022, it is one of the largest providers of music streaming services, with over 489 million monthly active users, including 205 million paying subscribers.
Through Spotify Technology S.A., a Luxembourg-domiciled holding company, Spotify is listed on the New York Stock Exchange as a company that holds American depositary receipts.
From record labels and media companies, Spotify provides digital copyright-restricted recorded audio content, including over 100 million songs and five million podcasts. As a freemium service, the basic features are free, but you can only do so much and have limited control over them.
Paid subscriptions give you more features like offline listening and listening without ads. Users can create, edit, and share playlists, as well as search for music by artist, album, or genre.
Spotify is available in 184 markets, including the majority of Europe, Africa, the Americas, Asia, and Oceania. Its users and subscribers are mostly from the United States and Europe, which together make up about 53% of its users and 67% of its revenue.
It does not have a presence on the mainland of China, where QQ Music dominates the market. The service is available on the majority of devices, including computers running Windows, macOS, or Linux, smartphones and tablets running iOS or Android, smart home devices like the Amazon Echo and Google Nest lines, and digital media players like Roku.
Spotify pays royalties based on the number of artist streams as a percentage of the total number of songs streamed, as opposed to physical or download sales, which pay artists a fixed price per song or album sold. It gives around 70% of its revenue to rights holders, usually record labels, who then pay artists according to their individual contracts.
