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Spotify founder Daniel Ek’s next act: long bets in European defence, health
['Thomson Reuters']
Sioux Falls | KELO-FM | kelofm.com
The key was streaming, not downloads, an idea that revolutionized the industry and catapulted Spotify into a $140 billion music powerhouse.
The serial entrepreneur, who announced on Tuesday he will step down as Spotify’s CEO next year, has his sights set on building the next Spotify — albeit not in the music industry.
Music groups including Massive Attack, King Gizzard & the Lizard Wizard, and Hotline TNT removed their music from Spotify in protest.
FROM CODER TO MUSIC INDUSTRY DISRUPTORAs a 23-year-old coder, Ek started Spotify to challenge online music piracy with a legal alternative, something even big music companies were struggling to address.
Under Ek, Spotify pushed three big levers that reshaped the business: price-disciplined subscriptions, algorithmic playlists that could mint hits overnight, and an ever-widening content range, from podcasts to audiobooks.