Spotify has revolutionized music streaming across the globe. With millions of songs available instantly, it’s no surprise people often ask, who owns Spotify? This article explores Spotify’s history, ownership, CEO, finances, and associated companies in great detail.
History of Spotify
Spotify was founded in Stockholm, Sweden, in April 2006 by Daniel Ek and Martin Lorentzon. The company aimed to combat music piracy by offering a legal and easy way to stream music. Spotify officially launched to the public in October 2008.
The service gained rapid popularity in Europe before expanding into the United States in 2011. Its freemium model—offering both free and premium subscriptions—helped it attract a broad audience. Over time, Spotify introduced curated playlists, podcast support, and personalization features that set it apart from competitors.
Spotify went public on April 3, 2018, through a direct listing on the New York Stock Exchange under the ticker symbol SPOT.
Who Owns Spotify: Major Shareholders
Spotify Technology S.A. is a publicly traded company. It is incorporated in Luxembourg but is headquartered in Sweden and the United States. Being publicly listed, Spotify is owned by a mix of institutional investors, retail shareholders, and its founders. The largest shareholder is one of its co-founders, Daniel Ek.
Here’s an overview of the major shareholders of Spotify as of 2025:
| Shareholder | Shares Owned | % Ownership | Role / Influence |
|---|---|---|---|
| Daniel Ek | 12.47 million | 6.12% | Co-founder & CEO; high voting power (~31%) through dual-class shares |
| Martin Lorentzon | 20 million | 9.81% | Co-founder; significant voting power via dual-class shares |
| Tencent Holdings Ltd. | 16.63 million | 8.16% | Strategic partner; investor via 2017 equity swap with Tencent Music |
| Baillie Gifford & Co. | 13.16 million | 6.46% | Long-term institutional investor focused on tech growth |
| BlackRock Advisors LLC | 7.58 million | 3.72% | Passive investor; influential via proxy voting and ESG advocacy |
| Eaton Vance Management | 6.92 million | 3.40% | Active investor; supports Spotify’s diversified revenue strategy |
| JPMorgan Investment Mgmt. | 5.91 million | 2.90% | Investor and past advisor; participated in Spotify’s direct listing |
| State Street Corporation | 4.23 million | 2.08% | Passive index fund investor; corporate governance influence |
| WCM Investment Mgmt. LLC | 3.79 million | 1.86% | Investor focused on global brands and long-term competitive edge |
| MFS Investment Mgmt. Canada | 3.41 million | 1.68% | Institutional investor; backs high-growth, disruptive firms |
Daniel Ek
Daniel Ek is the co-founder and current CEO of Spotify. As of 2025, he owns approximately 12.47 million shares, representing about 6.12% of the total outstanding shares. However, due to Spotify’s dual-class share structure, his voting power is significantly higher—estimated at around 31%. This structure gives him enhanced control over strategic decisions, mergers, acquisitions, and board appointments.
Ek’s deep involvement in product innovation and company direction ensures that Spotify remains aligned with his long-term vision. His leadership in expanding Spotify into podcasts, audiobooks, and personalized AI-driven music experiences has solidified his standing as both a major shareholder and a critical strategic voice.
Martin Lorentzon
Martin Lorentzon is Spotify’s co-founder and the former chairman of its board. As of 2025, he holds around 20 million shares, amounting to approximately 9.81% of Spotify’s outstanding shares. Like Ek, Lorentzon benefits from the dual-class share structure, giving him elevated voting power and board influence.
Although no longer actively involved in day-to-day operations, Lorentzon continues to influence the company’s direction through his significant voting rights. He played a key role in Spotify’s early funding rounds and helped shape the company’s expansion strategy during its formative years.
Tencent Holdings Ltd.
Tencent Holdings, a major Chinese tech conglomerate, owns approximately 16.63 million shares, which is about 8.16% of Spotify’s total equity. This investment came from a strategic equity swap deal signed in 2017. As part of the deal, Spotify also acquired a minority stake in Tencent Music Entertainment (TME), which is now publicly traded in the U.S.
Tencent’s investment provides Spotify with a valuable foothold in the Asian digital entertainment ecosystem. While Tencent does not play a direct role in day-to-day management, the partnership opens the door for future collaboration in content sharing, AI tools, and market development in regions where Tencent has a strong presence.
Baillie Gifford & Co.
Baillie Gifford, a renowned Scottish investment management firm, owns around 13.16 million shares, equivalent to 6.46% of Spotify’s equity. Known for its long-term investment philosophy, Baillie Gifford has backed several major tech companies, including Tesla, Amazon, and Shopify.
The firm views Spotify as a long-term disruptor in the global audio industry. It has consistently increased its position over the years and is considered a supportive shareholder that trusts the executive team’s ability to innovate and scale globally.
BlackRock Advisors LLC
BlackRock, the world’s largest asset manager, holds approximately 7.58 million shares, which translates to 3.72% of Spotify’s outstanding shares. BlackRock’s position in Spotify is part of its broader strategy of investing in global tech leaders with strong subscription-based revenue models.
Although BlackRock is not involved in direct governance, its influence comes from shareholder voting and corporate governance advocacy. It regularly engages with management teams to push for environmental, social, and governance (ESG) practices.
Eaton Vance Management
Eaton Vance, a subsidiary of Morgan Stanley Investment Management, owns around 6.92 million shares, or 3.40% of Spotify’s equity. The firm specializes in actively managed funds and often invests in technology companies poised for long-term growth.
Eaton Vance supports Spotify’s strategy of diversifying revenue through podcasts, live audio, and AI-driven user engagement tools. Its consistent holding over the years signals confidence in Spotify’s resilience amid competition from Apple Music and Amazon Music.
JPMorgan Investment Management, Inc.
JPMorgan holds about 5.91 million shares, equating to 2.90% of Spotify’s total shares. The firm’s exposure to Spotify includes both direct holdings and positions across various mutual and index funds.
JPMorgan has played a broader role in Spotify’s financial strategy, having advised the company during its unique direct listing in 2018. The bank’s continued investment reflects its belief in Spotify’s market leadership and monetization capabilities in both music and podcasting.
State Street Corporation
State Street owns approximately 4.23 million shares, or 2.08% of Spotify’s outstanding equity. As one of the “Big Three” index fund managers alongside BlackRock and Vanguard, State Street’s investment is part of its management of major ETFs and pension portfolios.
Although it remains a passive investor, State Street wields influence through proxy voting. The firm often engages with Spotify and similar companies on corporate governance matters.
WCM Investment Management LLC
WCM Investment Management owns about 3.79 million shares, equivalent to 1.86% of Spotify’s outstanding shares. WCM is known for focusing on companies with strong brand identity, global reach, and long-term competitive advantages.
WCM’s interest in Spotify lies in its user-centered innovation, global subscriber base, and commitment to reshaping the audio entertainment landscape. The firm believes Spotify’s long-term value lies in its transition from music to an all-encompassing audio platform.
MFS Investment Management Canada Ltd.
MFS owns approximately 3.41 million shares, representing 1.68% of Spotify’s equity. As a global investment management firm, MFS invests across various sectors, including media and technology.
Spotify fits MFS’s model of high-growth, disruptive tech companies. The firm has supported Spotify’s moves into exclusive content, such as deals with Joe Rogan and other high-profile podcast creators.
Who is the CEO of Spotify?
As of 2025, Daniel Ek continues to serve as the Chief Executive Officer (CEO) of Spotify Technology S.A., a position he has held since co-founding the company in 2006. Under his leadership, Spotify has evolved from a music streaming service into a comprehensive audio platform, encompassing podcasts, audiobooks, and video content.
Daniel Ek’s Leadership and Vision
Daniel Ek’s tenure as CEO has been marked by a commitment to innovation and user engagement. In 2024, Spotify achieved its first full year of profitability, reporting a net profit of €1.14 billion, a significant turnaround from the previous year’s losses. This milestone was attributed to strategic initiatives such as expanding into audiobooks, introducing AI-powered playlist features, and enhancing video content offerings.
Ek has emphasized the importance of balancing growth with efficiency. He has described 2025 as “the year of accelerated execution,” focusing on rapid innovation while maintaining financial discipline. His leadership style encourages decentralized decision-making, allowing teams to take ownership and drive initiatives forward.
Decision-Making Structure at Spotify
Spotify’s organizational structure reflects a Scandinavian leadership model, promoting autonomy and collaborative decision-making. Ek has stated that he delegates significant decision-making authority to his leadership team, fostering a culture where leaders are empowered to make impactful choices. This approach has enabled Spotify to remain agile and responsive in the fast-paced digital media landscape.
Past Leadership and Executive Team
While Daniel Ek has been the consistent CEO since the company’s inception, Spotify’s executive team has evolved to support its expanding operations. In 2024, Christian Luiga, formerly CFO and Deputy CEO at Saab, was appointed as Spotify’s Chief Financial Officer, bringing extensive experience in financial management. Additionally, Gustav Söderström serves as Co-President and Chief Product & Technology Officer, playing a pivotal role in product development and technological innovation.
Who Controls Spotify?
Spotify operates as a publicly traded company, with ownership distributed among founders, institutional investors, and public shareholders.
Founders’ Influence
Daniel Ek and Martin Lorentzon, Spotify’s co-founders, maintain significant influence over the company’s strategic direction. Despite owning a combined minority of shares, the company’s dual-class share structure grants them enhanced voting rights, allowing them to steer major decisions and uphold their long-term vision for Spotify.
Institutional Shareholders
Several institutional investors hold substantial stakes in Spotify, contributing to its financial stability and governance. Notable shareholders include Tencent Holdings Ltd., Baillie Gifford & Co., and BlackRock Advisors LLC. These entities support Spotify’s growth through capital investment and by providing strategic insights.
Board of Directors
Spotify’s Board of Directors comprises individuals with diverse backgrounds in technology, finance, and media. The board oversees corporate governance, ensuring that the company’s operations align with shareholder interests and regulatory requirements. While specific board members’ details are not provided here, the board plays a crucial role in guiding Spotify’s strategic decisions and long-term planning.
Annual Revenue and Net Worth of Spotify
Spotify has consistently grown its financial performance through innovation in streaming, podcasting, and personalized audio experiences. The company’s revenues and market value reflect its expanding global influence and strategic shifts beyond music.
Spotify’s 2024 Annual Revenue
In 2024, Spotify achieved a total annual revenue of €14.2 billion, representing a solid increase from €13.25 billion in 2023. This marked the first year Spotify recorded a full-year profit, with a net income of approximately €1.14 billion.
Much of this growth came from its paid subscriptions segment, which remains Spotify’s core revenue driver. By the end of 2024, the company had over 236 million premium subscribers. Advertising revenue also reached record highs due to Spotify’s focus on podcast monetization and dynamic ad insertion via platforms like Megaphone.
Spotify’s diversification into audiobooks, personalized AI DJ tools, and its continued push into podcast exclusivity also contributed to both user engagement and higher ARPU (average revenue per user).
Spotify’s Net Worth in 2025
As of Q1 2025, Spotify’s market capitalization stands at approximately $38 billion USD, making it one of the most valuable audio streaming companies in the world.
Spotify’s net worth, calculated based on total assets minus liabilities, is estimated to be between $9–11 billion USD, depending on asset revaluations and recent investments. This includes physical assets, licensing rights, intellectual property, and acquired subsidiaries such as Anchor, Gimlet, and Soundtrap.
Spotify’s growth trajectory, stable subscription base, and recent profitability have boosted investor confidence and long-term forecasts. Analysts expect continued momentum as Spotify builds new verticals like AI-driven music creation and global audiobook expansion.
Spotify Revenue and Net Worth (2015–2024)
Below is an overview of the annual revneue and net worth of Spotify from 2015-24:
| Year | Revenue (in USD billions) | Net Worth (in USD billions) |
|---|---|---|
| 2015 | 2.52 | 2.30 |
| 2016 | 3.30 | 3.10 |
| 2017 | 4.09 | 4.50 |
| 2018 | 5.30 | 5.00 |
| 2019 | 6.76 | 10.00 |
| 2020 | 9.27 | 50.00 |
| 2021 | 11.44 | 56.00 |
| 2022 | 13.00 | 40.00 |
| 2023 | 14.90 | 45.00 |
| 2024 | 17.00 | 55.00 |
Brands and Companies Owned by Spotify
As of 2025, Spotify Technology S.A. has strategically expanded its portfolio through various acquisitions, enhancing its capabilities in music streaming, podcasting, and audio content creation.
Below is an overview of the major companies and brands owned by Spotify:
| Company/Brand | Acquired | Focus Area | Purpose/Strategic Benefit |
|---|---|---|---|
| Gimlet Media | 2019 | Narrative podcast production | Boost podcast content and original storytelling |
| Anchor | 2019 | Podcast creation/distribution | Empower creators and grow podcast volume |
| Parcast | 2019 | True crime/history podcasts | Expand podcast genre offerings |
| The Ringer | 2020 | Sports and pop culture media | Diversify content and attract sports/pop culture audiences |
| Soundtrap | 2017 | Cloud music studio | Support creators with collaborative music production tools |
| Megaphone | 2020 | Podcast hosting and advertising | Enable dynamic ad insertion and expand ad business |
| Findaway | 2021 | Audiobook distribution | Enter audiobook market and compete with Audible |
| Podsights | 2022 | Podcast ad measurement | Improve podcast ad analytics and attribution |
| Chartable | 2022 | Podcast analytics tools | Help podcasters grow audiences and measure reach |
| Sonantic | 2022 | AI voice generation | Enhance personalized and interactive audio features |
| Heardle | 2022 (retired 2023) | Music trivia game | Engage users in music discovery (later shut down) |
| Kinzen | 2022 | Content moderation | Improve platform safety and harmful content detection |
| Soundwave | 2016 | Music discovery/social sharing | Enhance music discovery via community engagement |
| Cord Project | 2016 | Voice messaging apps | Explore new forms of mobile audio communication |
| The Echo Nest | 2014 | Music intelligence and data | Power Spotify’s recommendation and playlist algorithms |
| Seed Scientific | 2015 | Data science consulting | Improve internal data and strategic decision-making |
| CrowdAlbum | 2016 | Fan photos from live events | Help artists connect with live audiences |
| Preact | 2016 | Customer retention analytics | Reduce churn and improve user subscription strategies |
| Sonalytic | 2017 | Audio identification | Enhance audio fingerprinting and content matching |
| MightyTV | 2017 | Machine learning recommendations | Apply ML to ad targeting and personalization |
| Mediachain | 2017 | Blockchain attribution | Improve music rights and royalty tracking |
| Niland | 2017 | AI music recommendations | Refine personalization of user listening experience |
| Loudr | 2018 | Music licensing solutions | Streamline royalty payments and rights management |
| SoundBetter | 2019 | Music production marketplace | Connect artists with audio professionals for production services |
Gimlet Media
Acquired in February 2019 for $230 million, Gimlet Media is a digital media company specializing in narrative podcasts. Founded in 2014 by Alex Blumberg and Matthew Lieber, Gimlet produced popular shows like StartUp, Reply All, and Crimetown. In 2023, Spotify merged Gimlet with Parcast to form Spotify Studios, streamlining its podcast production efforts.
Anchor
Also acquired in February 2019, Anchor is a podcast creation and distribution platform that allows users to easily produce and monetize podcasts. Its user-friendly tools have empowered a new generation of podcasters, contributing to the growth of Spotify’s podcast library.
Parcast
Spotify purchased Parcast in 2019, a podcast network specializing in true crime, mystery, and history genres. Parcast has brought a significant library of engaging content to Spotify, catering to listeners with an appetite for serialized storytelling. In 2023, Spotify merged Parcast with Gimlet to form Spotify Studios, consolidating its podcast production efforts.
The Ringer
Acquired in 2020, The Ringer is a sports and pop culture media company founded by Bill Simmons. It offers a range of podcasts and articles covering sports commentary, pop culture, and entertainment, expanding Spotify’s reach into these content areas.
Soundtrap
Spotify acquired Soundtrap, a cloud-based digital audio workstation, in 2017. This platform enables users to create and edit music collaboratively, catering to both professional and amateur musicians. Soundtrap has added value to Spotify by fostering creative engagement among artists on the platform.
Megaphone
Megaphone, a podcast advertising and hosting platform, was purchased by Spotify in 2020. Its technology enables podcasts to deliver targeted advertising effectively, appealing to advertisers looking for precision and reach. This acquisition enhanced Spotify’s advertising capabilities and revenue-generation model in the podcast sector.
Findaway
In November 2021, Spotify acquired Findaway, an audiobook distribution company. This move marked Spotify’s entry into the audiobook market, allowing it to offer a vast selection of audiobooks to its users and compete with established players in the space.
Podsights
Acquired in February 2022, Podsights is a podcast advertising measurement service. It helps advertisers understand the impact of their podcast ads by providing insights into listener behavior and ad performance. This acquisition bolstered Spotify’s advertising capabilities, enabling more effective ad targeting and measurement.
Chartable
Also acquired in February 2022, Chartable is a podcast analytics platform that offers tools like SmartLinks and SmartPromos to help podcasters grow their audiences. By integrating Chartable’s technology, Spotify enhanced its support for podcast creators, providing them with better insights and promotional tools.
Sonantic
In June 2022, Spotify acquired Sonantic, a company specializing in AI-generated voice technology. Sonantic’s technology can create realistic, emotionally nuanced synthetic voices, which Spotify can leverage to enhance user experiences, such as personalized playlists and interactive content.
Heardle
Acquired in July 2022, Heardle is a music trivia game that challenges players to guess songs based on short audio clips. This acquisition allowed Spotify to engage users in a fun, interactive way, promoting music discovery and user engagement. However, Spotify discontinued Heardle in April 2023.
Kinzen
In October 2022, Spotify acquired Kinzen, an Ireland-based company focused on content moderation and harmful content detection. Kinzen’s technology helps Spotify ensure the safety and integrity of its platform by detecting and managing harmful or misleading content.
Soundwave
Spotify acquired Soundwave, a music discovery and social networking app, in January 2016. Soundwave allowed users to share and discover music in real-time, fostering a community of music enthusiasts. The acquisition aimed to enhance Spotify’s social features and music discovery capabilities.
Cord Project
Also acquired in January 2016, Cord Project developed voice messaging apps for mobile devices. The acquisition was part of Spotify’s efforts to explore new forms of audio communication and expand its product development capabilities.
The Echo Nest
Acquired in March 2014, The Echo Nest was a music intelligence company that provided in-depth data on music trends and listener preferences. Its technology has been integral to Spotify’s personalized recommendations and playlist generation features.
Seed Scientific
In June 2015, Spotify acquired Seed Scientific, a data science consulting firm. This acquisition helped Spotify enhance its data analytics capabilities, enabling more informed decision-making and personalized user experiences.
CrowdAlbum
Acquired in April 2016, CrowdAlbum was a platform that aggregated photos and videos from live music events. Spotify used this technology to help artists better understand and engage with their audiences by providing insights into fan experiences at concerts.
Preact
In November 2016, Spotify acquired Preact, a cloud-based platform that helps companies reduce customer churn and increase subscriber numbers. This acquisition aimed to improve Spotify’s customer retention strategies and subscription growth.
Sonalytic
Acquired in March 2017, Sonalytic developed audio detection technology that can identify songs and audio clips. Spotify integrated this technology to enhance its music matching capabilities and improve the accuracy of its music recommendations.
MightyTV
In March 2017, Spotify acquired MightyTV, an app that provided personalized TV show recommendations. The acquisition aimed to leverage MightyTV’s expertise in machine learning and personalization to enhance Spotify’s advertising and content recommendation systems.
Mediachain
Acquired in April 2017, Mediachain was a blockchain startup focused on managing attribution and metadata for media. Spotify used Mediachain’s technology to improve the accuracy and transparency of its music attribution and royalty payments.
Niland
In May 2017, Spotify acquired Niland, a French startup specializing in music recommendation technology. Niland’s algorithms enhanced Spotify’s ability to deliver personalized music suggestions to users.
Loudr
Acquired in April 2018, Loudr provided music licensing solutions, helping content creators identify and pay rights holders. This acquisition improved Spotify’s licensing processes and ensured proper compensation for artists and rights holders.
SoundBetter
In September 2019, Spotify acquired SoundBetter, a music production marketplace that connects musicians, producers, and audio engineers. This platform allows artists to collaborate and hire professionals for music production, mixing, and mastering services.
Conclusion
Spotify has evolved from a small startup into a global streaming powerhouse. So, who owns Spotify? The company is primarily owned by its co-founder Daniel Ek, along with institutional investors like Baillie Gifford and Tencent. Ek holds significant voting power, giving him strong control over the company’s direction.
Through smart acquisitions and a strong leadership team, Spotify continues to shape the future of audio streaming. Its story is a testament to innovation, persistence, and adaptability.
FAQs
Who is the real owner of Spotify?
Spotify is publicly owned, with a variety of institutional and retail investors. The company was founded by Daniel Ek and Martin Lorentzon, who remain major shareholders. The “real owner” in terms of control lies with the shareholders, with Daniel Ek being the largest individual shareholder and the company’s CEO.
Is Spotify owned by Sony?
No, Spotify is not owned by Sony. However, Sony Music Entertainment holds a significant stake in Spotify through its investment and distribution partnership. Sony Music also benefits from the platform as part of its music catalog distribution.
Who is the largest shareholder of Spotify?
As of 2025, the largest shareholder of Spotify is Daniel Ek, the co-founder and CEO, who controls a significant portion of the company’s voting shares. Ek owns about 14-15% of the company’s common stock, but his voting power is higher due to the special class of shares he holds.
Is Spotify owned by Tencent?
Tencent holds a minority stake in Spotify, but it does not own the company. Tencent, through its subsidiary Tencent Music Entertainment, bought a stake in Spotify in 2017, making it one of the notable institutional investors. However, it does not control Spotify.
How rich is Spotify CEO?
As of 2025, Daniel Ek’s net worth is estimated to be around $5–7 billion, primarily due to his ownership stake in Spotify and other investments. His wealth has fluctuated with the company’s stock price.
Does Spotify pay artists?
Yes, Spotify does pay artists, but the payments are typically based on the number of streams their music receives. The platform operates on a pro-rata model where a portion of Spotify’s subscription and ad revenue is allocated to pay rights holders, including record labels, managers, and performers.
Who owns 15% of Spotify?
Daniel Ek, Spotify’s co-founder and CEO, owns approximately 14-15% of Spotify’s common shares, which grants him significant voting power, even though his ownership stake is relatively small in terms of shares.
Which country made Spotify?
Spotify was founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon. The company’s headquarters is located in Stockholm, Sweden, although it operates globally.
Who funded Spotify?
Spotify was initially funded by venture capitalists, including notable firms like Accel, Kleiner Perkins, and Earlybird Venture Capital. The company also received early backing from prominent investors like Li Ka-shing, a Hong Kong billionaire, and Sean Parker, the former Facebook president.
How old is Spotify?
Spotify was founded in 2006, which makes the company 19 years old as of 2025.
Is the Spotify story true?
Yes, the Spotify story is true. It began with Daniel Ek and Martin Lorentzon’s frustration with the issue of piracy in the music industry. They created a streaming platform to provide users with legal access to music while compensating artists and record labels.
Is Spotify profitable?
Spotify has faced years of losses, but it turned a profit in 2024. As of 2025, the company is now profitable, driven by strong growth in paid subscribers and advertising revenue. However, profitability continues to depend on cost management and future growth.
Is Spotify owned by Google?
No, Spotify is not owned by Google. However, Spotify does have a partnership with Google, especially in integrating its service with Google Assistant and on Android devices.
Is Spotify owned by Facebook?
No, Spotify is not owned by Facebook (now Meta). Facebook does integrate Spotify through its social sharing features, but there is no ownership relationship between the two companies.
Is Spotify American owned?
No, Spotify is a Swedish company, founded and headquartered in Stockholm, Sweden. However, it operates globally, with a strong presence in the United States.
Who runs Spotify?
Spotify is run by Daniel Ek, the CEO and co-founder of the company. He has been in charge since its inception and continues to lead the company, guiding its strategy and overall direction.
Is Spotify privately owned?
No, Spotify is a public company listed on the New York Stock Exchange under the symbol SPOT.
Who founded Spotify?
Spotify was founded in 2006 by Daniel Ek and Martin Lorentzon in Stockholm, Sweden.