Spotify history: Beyond the Ticker

If you listen to music on the go, chances are you’ve heard of Spotify (SPOT). From its start as an invite-only service to over 600 million monthly active users, Spotify has become one of the largest music streaming providers in the world.

Beyond the Ticker takes a look at the company’s biggest moments as it works to ensure lasting success in a competitive market.

2006

Spotify was founded by Daniel Ek and Martin Lorentzon. The company is based in Stockholm, Sweden.

2009

After its start as an invite-only service, Spotify began offering free, but limited access, in the United Kingdom.

2011

Spotify launched in the United States in July 2011. Days later, the company received $100 million dollars in funding, valuing it at $1 billion.

2014

Taylor Swift pulled all of her music off of Spotify, claiming that “Valuable things should be paid for”. Swift reconciled with the streamer in 2017.

2017

Spotify announced the expansion of its US operations in New York City, adding approximately 1,000 new jobs.

2018

On April 3, 2018, Spotify became a publicly traded company, trading on the New York Stock Exchange under the ticker symbol SPOT. Shares opened at $165.90 each. That valued the company at $29.5 billion.

2020

The company launched its dedicated podcast unit, highlighted by exclusive deals with Joe Rogan, Bill Simmons, and more.

2023

Spotify generated over $4 billion in revenue, including 602 million monthly active users and 236 million Premium subscribers.

2024

Spotify continues to expand, now available in 184 markets across Europe, Africa, the Americas, and Asia.

It is also leaning deeper into artificial intelligence, with features like AI DJ and AI playlist – all in an effort to ride this next wave of innovation into the future.

From tech giants to retail titans, Beyond the Ticker is a historical series that takes a deep dive into some of Wall Street’s trending companies and how they transformed into the financial icons they are today.

Check out more of our Beyond the Ticker series, and be sure to tune in to Yahoo Finance.

Editor’s note: This video was produced by Zach Faulds.

Video Transcript

If you listen to music on the go, chances are you’ve heard of Spotify from its star is an invite only service to over 600 million monthly active users.

Spotify has become one of the largest music streaming providers in the world beyond the ticker takes a look at the company’s biggest moments as it works to ensure lasting success in a competitive market.

Spotify was founded in 2006 by Daniel Eck and Martin Lorenson.

The company is based in Stockholm, Sweden after its start as an invite only service, Spotify began offering free but limited access in the UK, beginning in 2009, Spotify launched in the United States in July.

Story continues

2011 days later, the company received $100 million in funding valuing it at 1 billion.

But in 2014, Taylor Swift pulled all of her music off of Spotify claiming that quote, valuable things should be paid for.

Swift, reconciled with the streamer.

In 2017, that same year, Spotify announced the expansion of its US operations in New York City adding approximately 1000 new jobs on April 3rd, 2018, Spotify became a publicly traded company trading on the New York Stock Exchange under the ticker symbol, Spot Sears opened at $165.90 each that valued the company at 29.5 billion.

The company launched its dedicated podcast unit in 2020 highlighted by exclusive deals with Joe Rogan, Bill Simmons and more.

In 2023 the audio giant generated over $4 billion in revenue which also included 602 million monthly active users and 236 million premium subscribers.

Spotify continues to expand now available in 184 markets across Europe, Africa, the Americas and Asia.

It’s also leaning deeper in artificial intelligence with new features like A I DJ and A I playlist all in an effort to ride this next wave of innovation into the future.