Who Owns Spotify
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Spotify is a popular streaming music service company founded in 2006 by Daniel Ek and Martin Lorentzon. Since its inception, Spotify has become a multi-billion dollar company with users in over 60 countries and two million paying subscribers. It is widely considered to be the largest streaming music service in the world.
So, who owns Spotify? Spotify AB, the Stockholm-based company that manages the streaming service, is currently owned by Daniel Ek, who holds the majority of the company’s shares, and Martin Lorentzon. The two founders, who had been doing business together since 2002, created the company with shared financing by venture capitalist companies Northzone Ventures and Li Ka-Shing’s Horizons Ventures. The current shareholders also include the Swedish financial firm Swedbank Robur Fonder, Technology Crossover Ventures and Accel Partners.
In addition to this, a number of celebrities have stakes in the company. Some of the most notable celebrity Spotify owners include Sean Parker, the Napster founder and one of the first Facebook investors, rapper and entrepreneur Shawn “Jay-Z” Carter, and rock star Bono. In 2018, it was reported that Spotify had formed an investor group with its former rivals, including Tencent Music Entertainment, Sony Music Entertainment and Warner Music Group.
In addition to its majority shares, Spotify also owns a number of subsidiaries, including the podcast industry giants Anchor and Gimlet Media. In 2019, the company acquired audio technology company SoundBetter, which provides music production and recording services.
Today, Spotify continues to be one of the biggest streaming services in the world and is expected to go public this spring. With its large subscriber base and portfolio of talented investors, Spotify will likely remain a major player in the music industry for years to come.