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Spotify
- 2. Overview • Music streaming service – Free and Premium • Playlists and social sharing features • 3rd party apps • Huge music library (20M+ songs) • 10 Million paying users, 30 million free users (May 2014)
- 3. Financials • Freemium – Subscriptions and advertising • Private company • Estimated company value: $4 billion
- 4. Financials • $245M total revenue in 2011, $558M in 2012 (via Generator) – 70% of revenue paid in royalties • Total losses of $60M in 2011, $77M in 2012 (via the Journal)
- 5. History • 2006 - founded by Daniel Ek and Martin Lorentzon in Stockholm, Sweden • Oct 2008 – launched to the public • 2009 – Mobile app • Mar 2011 – 1 million users • Nov 2011 – US launch • 2014 – over $2B paid in royalties
- 6. What’s hot? • Uber partnership • Spotify Premium for Students • Not Taylor Swift!
- 7. Secret Sauce? • Free Features – Selection – Playlists – Apps – Radio – Sharing
- 8. Story Time • Daniel Ek – programmer/musician/entrepreneur • Dropped out of Royal Institute of Technology • Worked at Tradedoubler, met Lorentzon • Spotify – an answer to Sweden’s PirateBay • Convinced record labels using MVP with pirated tracks!
- 9. Competition
- 10. Future Outlook • User growth • IPO? • Profit? -> TBD