How Spotify Saved The Music Industry And Minted A Billionaire, Forbes

A decade ago, Daniel Ek convinced labels and artists to stream their songs on Spotify, reviving the flatlining music industry. Now, after amassing a 4. 4 billion fortune, hes moving past pop stars, opening his superstreamer to storytelling, live talk and a new breed of audio creators in a bid to own the worlds digital eardrums. The company has come a long way since Ek reluctantly threw on a suit and tieand threw back a few whiskiesto pose for the cover of the first Forbes 30 Under 30 issue ten years ago. Back then, in January 2012, Spotify had just 500 employees, 300 million in sales and a valuation of 2 billion. The service had been available in America for only six months. Today, Eks superstreamer plays in 184 countries, has 7, 400 employees and 9. 7 billion in annual sales. Spotify went public in 2018, and Ekwho in 2012 had a paper fortune of 300 millionis now worth 4. 4 billion. Spotify was the force that transitioned hundreds of millions of users from