Founded in , the company mainly provides an audio streaming platform, the "Spotify" platform, that offers DRM -restricted music and podcasts from record labels and media companies. As a freemium service, basic features are free with advertisements or automatic music videos. Additional features, such as offline listening and commercial-free listening, are offered via paid subscriptions. Launched in October , the Spotify platform provides access to over 60 million songs. As of July , the company had million monthly active users , including million paying subscribers. 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. Spotify has faced criticism from artists and producers including Taylor Swift and Thom Yorke , who have argued that it does not fairly compensate musicians. In , as part of its efforts to renegotiate license deals for an interest in going public , Spotify announced that artists would be able to make albums temporarily exclusive to paid subscribers if the albums are part of Universal Music Group or the Merlin Network.
By Jem Aswad. Senior Music Editor. As the coronavirus-induced lockdown begins to ease in Europe and the U. We will continue to track local government guidelines city-by-city and take a phased approach of opening our offices when we deem it safe to do so. No employee will be required to come into the office and can choose to work from home through the end of the year. Spotify joins other internet companies extending work-from-home policies through the end of , including Facebook and Google.
Spotify has told its global employee base that they are welcome to work from home until next year. We will continue to track local government guidelines city-by-city and take a phased approach of opening our offices when we deem it safe to do so. No employee will be required to come into the office and can choose to work from home through the end of the year. According to its latest annual fiscal report , Spotify employed 4, people on a full-time basis worldwide in , with 2, in the United States and 1, in Sweden. As a result Spotify is currently worth more in market cap terms than at any point since August , nearly two years ago. Over a thousand Joe Rogan podcasts will land on Spotify on September 1, with both the audio and video of these episodes becoming exclusive on SPOT — and therefore unavailable on YouTube and Apple Podcasts — later this year. Music Business Worldwide. By Tim Ingham. News Sweden United States Spotify.
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