Spotify was co-founded by the current CEO Daniel Ek. Spotify is a music streaming service used by more than 150 million people, 70 million are payed subscribers. Ek owns nearly 9% of the shares in the company still today. Him and his business partner Martin Lorentzon founded the company in 2006 in Sweden, and launched there product in 2008. Spotify has managed to remain current in a society of continually changing media.
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Spotify has been able to innovate the music industry through creative new ways of not only listening to music but also discovering new music. Spotify has also been able to innovate internally by including music videos and podcasts into their service, making it more attractive for consumers.
I don’t use Spotify, but I don’t have to know the popularity and success it has had. Especially it’s maintenance as an “elite” music streaming network in an ever-changing media world.
I have had nothing but positive experiences with Spotify. I once contacted their customer support line about renewal of my student rate after being charged for the normal amount for two months. They said they could not give me a refund, so they gave me 3 free months as an apology. Great company.
Cancelling Spotify today is like turning off the water to your house. They have turned music into a utility that it is hard to imagine life without. Great example!