Spotify, a publicly owned company founded in 2006, is headquartered in Sweden with additional offices in the United States. Employing over 10,700 people, the company's primary business is providing digital audio streaming services. These services offer access to copyrighted music recordings and podcasts from various record labels and media companies. In 2024, Spotify's revenue exceeded $1 billion.
Spotify reported that royalty payments to artists from Nigeria and South Africa reached approximately $59 million in 2024. This increase reflects the growing global popularity of African music, a trend Spotify's data indicates is significant. The company's platform features African music prominently, contributing to the substantial royalty payments to musicians from the continent. Separately, on April 5, 2025, a news outlet reported on a contemporary composer, Eduard Palchyk, whose music is available on various platforms including Spotify, YouTube Music, Deezer, and Apple Music. Finally, on April 14, 2025, Spotify promoted a reading of David Bezmozgis' story "From To" from a magazine.
Spotify offers 2 products in the media and telecoms services and ad tech industries. Spotify's product portfolio comprises of ad measurement and verification and streaming services.
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Spotify's revenues were $16.5B in 2024. All the revenue comes from display attribution and verification.
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