Spotify, a publicly owned company founded in 2006, is headquartered in Sweden with additional offices in the United States. Employing over 16,200 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 added a high-fidelity audio setting to its platform for Premium subscribers, rolling it out over a month starting last week. A music industry group accused AI companies of copyright infringement for using the world's music catalogue. In July, artists considered leaving Spotify following CEO Daniel Ek's investment in a German AI military drone company. This followed a partnership between FC Barcelona and Spotify, beginning in the summer of 2022, where Spotify became the main sponsor for the club's men's and women's teams. Massive Attack requested that Spotify remove their music, citing Ek's investment in the defense company and also requested Universal Music Group withdraw their work from Israeli streaming services.
Spotify offers 2 products in the ad tech and media and telecoms services industries. Spotify's product portfolio comprises of ad measurement and verification and media and TV services.
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Spotify's revenues were $17.0B in 2024. Caretta Research has split Spotify's revenue into 2 different product categories, the largest of which is music streaming, which represents 100% of Spotify's revenue.
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