The Illegal Rise Of Spotify

The Illegal Rise Of Spotify

The largest streaming platform in the world has given the New York Stock Exchange everything it needs to start trading its shares publicly. It is used in more than 61 different countries by 159 million active users and has a music library with 35 million songs. How, then, did Spotify, a Swedish music service that didn't even exist until 2008, become the most popular streaming service in every country in the world? Welcome to Luxury Magnat! Let’s talk about the Rise of Spotify!

Daniel Ek and Martin Lorentzon started Spotify as a small business in the Swedish city of Stockholm. They started the platform in 2006 with the goal of helping the music industry deal with the huge amount of piracy it was facing at the time. When it was finally released two years later, Spotify gave music fans a free service that was paid for by ads in the hopes that they would pay £10 per month for a subscription that didn't include ads.


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