Spotify

Spotify is a Swedish audio streaming and media services provider offering music, podcasts, and video content from creators worldwide. Founded in Stockholm by Daniel Ek and Martin Lorentzon, the company developed in response to growing piracy problems in the music industry, creating a legal and convenient alternative for listening to music. Spotify operates on a freemium business model, providing basic features with advertisements for free users and premium features like offline listening and ad-free experience through paid subscriptions. The platform hosts over 70 million tracks and 3.2 million podcasts, using a combination of algorithm-based recommendations and human-curated playlists to help users discover content. Key features include personalized playlists like Discover Weekly and Release Radar, collaborative playlists, social sharing capabilities, and detailed audio quality settings. Beyond music, Spotify has invested heavily in podcast content through studio acquisitions and exclusive deals with high-profile creators. The company has expanded its services to include audiobooks and has introduced features like Canvas (looping visuals) and Spotify Live for real-time audio conversations. While headquartered in Stockholm, Sweden, Spotify is legally registered in Luxembourg and maintains offices in multiple countries. Its impact extends beyond streaming to influence how music is produced, marketed, and consumed, transforming the recording industry's business model from ownership-based (albums, downloads) to access-based subscription services while providing artists with exposure to global audiences through its discovery features and integration with social media platforms.