On April 23, 2006, Daniel Ek and Martin Lorentzon established Spotify, a privately held Swedish supplier of media services including audio streaming.
Users may make, update, and share playlists and search for music based on an artist, album, or genre.
More than 82 million songs, including those with digital copyright restrictions, are available on Spotify from record labels and media firms.
Basic functions are free with commercials and restricted control as part of a freemium service, however other capabilities like offline listening and commercial-free listening are only available with paid memberships.
Spotify pays royalties depending on the percentage of artist streams to all songs streamed, as opposed to physical or digital sales, which pay artists a set amount for each song or album sold.
Where Was Spotify Founded?
Spotify was founded in Sweden. According to Ben Sisario of The New York Times, 13,000 out of seven million musicians on Spotify (0.0019%) will get payouts of at least $50,000 in 2020.
As of September 2022, it had over 456 million monthly active users, including 195 million paid members, making it one of the biggest music streaming service providers.