According to Ek, the company's title was initially misheard from a name shouted by Lorentzon. Spotify was founded in 2006 in Stockholm, Sweden, by Daniel Ek, former CTO of Stardoll, and Martin Lorentzon, co-founder of Tradedoubler. History Daniel Ek addressing Spotify staff in 2010 While certain musicians have voiced objections to Spotify's royalty structure and its effect on record sales, others laud the service for offering a lawful option to combat piracy and for remunerating artists each time their music is played. It distributes approximately 70% of its total revenue to rights holders (often record labels), who then pay artists based on individual agreements. Unlike physical or download sales, which pay artists a fixed price per song or album sold, Spotify pays royalties based on the number of artist streams as a proportion of total songs streamed. The service is available on most devices, including Windows, macOS, and Linux computers, iOS and Android smartphones and tablets, smart home devices such as the Amazon Echo and Google Nest lines of products, and digital media players like Roku. It has no presence in mainland China where the market is dominated by QQ Music. Its users and subscribers are based largely in the US and Europe, jointly accounting for around 53% of users and 67% of revenue. Spotify is available in most of Europe, as well as Africa, the Americas, Asia, and Oceania, with a total availability in 184 markets. Users can search for music based on artist, album, or genre, and can create, edit, and share playlists. As a freemium service, basic features are free with advertisements and limited control, while additional features, such as offline listening and commercial-free listening, are offered via paid subscriptions. Spotify offers digital copyright restricted recorded audio content, including more than 100 million songs and five million podcasts, from record labels and media companies. ) on the New York Stock Exchange in the form of American depositary receipts. Spotify is listed (through a Luxembourg City-domiciled holding company, Spotify Technology S.A. It is one of the largest music streaming service providers, with over 590 million monthly active users, including 226 million paying subscribers, as of September 2023. And if everyone is a big user of the company’s services, joining Apple One provides even more value.Spotify ( / ˈ s p ɒ t ɪ f aɪ/ Swedish: ) is a Swedish audio streaming and media services provider founded on 23 April 2006 by Daniel Ek and Martin Lorentzon. In contrast, you can make an Apple Family Sharing group to give access to your Apple Music Family plan to a total of six people, no matter their location (within your country). It enacts various measures to make sure you’re only creating a group plan for people who live with you. Spotify’s Duo and Family plans are a great way to save money by pooling your subscription, but the company doesn’t want you to sign up for these with anyone outside your home. If You Want to Join With Those Outside Your Home Spotify has discussed plans around this, but as of this writing, Spotify’s Hi-Fi tier has been postponed indefinitely. Spotify Premium’s high quality is enough for most people, but audiophiles should look elsewhere. Apple Music includes lossless audio for certain music, and competitors like Tidal boast about having the highest quality streaming possible. One of Spotify’s biggest omissions is the lack of a Hi-Fi plan.
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