Tag: spotify

Founded in 2006, the company’s primary business is providing an audio streaming platform, the “Spotify” platform, that provides DRM-restricted music, videos and podcasts from record labels and media companies.

Launched on 7 October 2008, the Spotify platform provides access to over 50 million tracks. Users can browse by parameters such as artist, album, or genre, and can create, edit, and share playlists.

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.