Spotify is a music, video and podcast streaming service founded on April 23, 2006 in Stockholm, Sweden.
Spotify allows users to create and customise their own playlists and browse content using parameters such genre, artist and album searches.
It compensates artists by paying them royalties based on the number of their streams proportional to the number of total songs streamed overall.
The company was founded by Daniel Ek and Martin Lorentzon and officially launched on October 7, 2008.
Spotify is a music, video and podcast streaming service founded on April 23, 2006 in Stockholm, Sweden. Spotify allows users to create and customise their own playlists and browse content using parameters such genre, artist and album searches
It operates using a ‘freemium’ service model, meaning that its basic features are free with some restrictions and advertisements while additional services are available via paid subscription.
The service is available in most of North and South America, Europe, Australia, New Zealand and some parts of Asia.
It’s available on macOS, Windows and Linux computers as well as on Android, iOS and Windows smartphones and tablet computers.
Spotify currently has approximately 159 million users, 71 million of whom use paid subscription services.
Its revenue for fiscal year 2017 is believed to be about $4.99 billion (£3.63bn).