Spotify is a Swedish commercial music streaming, podcast, and video service that provides digital rights management–protected content from record labels and media companies.It is available in most of the Americas, Western Europe, and Oceania. Music can be browsed or searched by artist, album, genre, playlist, or record label. Spotify operates under a freemium business model, with two music streaming tiers: Spotify Free and Spotify Premium. Benefits of the Premium subscription include the removal of advertisements, improved audio quality, and the user can download music to their device for offline listening.
Rumor had it that the company was up for sale, however, Daniel Ek, co-founder of Swedish music streaming service Spotify which has the biggest paid subscriber base in the world, said he had no intention of selling the company.
Speaking about the issue, Daniel mentioned,
“My selfish ambition with Spotify is just trying to show … that we can create one of those super companies here in Europe,”
He further added,
“I’m not going to sell, no.”
However, investors believe privately owned Spotify is probably heading for a public listing, some industry analysts see the loss-making company as a takeover target for a larger tech giant with deeper pockets.