![]() “Daniel Ek’s most controversial pre-Spotify job was at notorious piracy-enabling platform uTorrent, which he joined after selling Advertigo in 2006.” ![]() Ek went on to study engineering at the KTH Royal Institute of Technology, but dropped out of his studies to focus on his career in tech.Īfter running a home business building websites in his teens, Ek worked at Swedish online auction business Tradera, which was founded in 1999 and sold to eBay in April 2006. Daniel Ek: Pre-Spotify careerĭaniel Ek was born in February 1983 in Stockholm, Sweden, growing up in the Rågsved district of the city. ![]() It’s a strategy that has seen Spotify outpace all of its music streaming rivals on a global basis.Īt the end of 2020, Ek’s company had 155 million Premium subscribers Midia Research suggests that, in Q1 2020, Spotify claimed a market share of global music streaming subscriptions of 32%, nearly double that of nearest rival Apple Music (18%). In May 2020, Ek said: “Eventually we will get to more of a point of maturity where we’ll focus more on profit over growth, but for the next few years it’s going to be predominantly growth for us.” Since the launch of Spotify, the exec’s mantra has been one of growth at (literally) all costs. “Eventually we will get to more of a point of maturity where we’ll focus more on profit over growth, but for the next few years it’s going to be predominantly growth for us.”ĭaniel Ek, Spotify (speaking in May 2020) In 2020, Spotify posted an annual €709 million ($810 million) pre-tax loss – equivalent to losing $2.2 million every day of the year. ![]() Since then, over the course of 14+ years of existence, Spotify hasn’t turned an annual profit at any stage in its history. ![]()
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