Science & technology

Release of Spotify

23 April 2006

Spotify is a Swedish music streaming service founded by Daniel Ek and Martin Lorentzon in Stockholm. The company was created in 2006, and the service launched to the public in 2008, offering a large library of licensed music that users could stream for free with advertising or by paying for a subscription. The business model helped to reduce online piracy by offering an easy legal alternative. It expanded to the United States in 2011 and added podcasts and audiobooks later. It listed on the New York Stock Exchange in 2018. Artists and labels have criticised the low payments per stream, and the service has become one of the largest in the music industry.

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