Therefore, the Spotify model represents an evolution of agile. The Spotify model was first recognized in 2012 after Henrik Kniberg and Anders Ivarsson released a white paper detailing how streaming company Spotify approached agility. The Spotify Model is an autonomous approach to scaling agile, focusing on cultural communication, accountability, and quality. Recently, it has also ventured into streaming audiobooks, podcasts, comedy, poetry, and short stories. The platform now offers curated music discovery services, music stations, audio customization, and private listening. Spotify became a success because it was the first company to determine how to distribute music legally and compensate the music industry simultaneously.

The company was founded by Martin Lorentzon and Daniel Ek in 2008 in response to the shutdown of peer-to-peer music service Napster. Spotify is the world’s largest music streaming platform, with over 381 million users across 184 markets worldwide. Of these revenues, 87.5% or €8.46 billion came from premium memberships, while over 12.5% or €1.2 billion came from ad-supported members. Founded in 2008 with the belief that music should be universally accessible, it generated €9.66 billion in 2021. Spotify has a free ad-supported service and a paid membership. Spotify is a two-sided marketplace where artists and music fans engage. How Spotify was organized as of 2017, based on the various entities across the world (Source: Spotify F-1).

Another key shareholder is Baillie Gifford & Co, a Scottish-based money management firm, followed by Morgan Stanley, T. Where Martin Lorentzon has 10.9% of ordinary shares and 42.9% of the voting power. As of 2021, Daniel Ek has 16.7% ownership of ordinary shares and 31.9% of the voting power. The multi-billion music streaming company Spotify is primarily owned by its founders, Daniel Ek and Martin Lorentzon. Digital Business Models Podcast by FourWeekMBA.Business Strategy Book Bundle By FourWeekMBA.An Entire MBA In Four Weeks By FourWeekMBA.

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