In the digital streaming era, music lovers have been able to enjoy their favorite tunes at the touch of a button. More specifically, listeners have been able to access millions of songs by streaming them online rather than having to buy individual tracks or albums.
Nowadays, there are several services that cater to this need, but one of the largest and most popular is Spotify. The Swedish company launched in 2008 and has since grown into one of the leading music streaming platforms.
In fact, as of January 2019, it has approximately 200 million users across the world. That’s not to say that Spotify hasn’t come under fire in recent years for various reasons. This article will explore what exactly Spotify is, who owns it, its pros and cons, and everything you need to know about it.
So, sit back, and relax. And have an in-depth read on one of the biggest corporations in the world!
With its music streaming services, Spotify allows users to listen to music on demand via any device that they have connected to the internet. The advertisements-supported service is primarily used to listen to audio clips and full-length tracks rather than music albums.
The service can also be used to create and share playlists consisting of a user’s favorite tracks and discover new music based on the user’s listening habits. Spotify’s user interface is divided into three main sections: “Browse,” “Discover,” and “Listen.” The “Browse” tab is a search bar that allows users to look for specific artists and albums.
The “Discover” tab recommends tracks based on a user’s listening habits, and the “Listen” tab is a personalized feed that displays a user’s most recently played tracks and includes recommendations from friends and artists.
With over 200 million active users across the world, Spotify is one of the most popular music streaming services in the world, across 61 countries.
However, despite the site’s widespread use, many people are unaware of the fact that it is not an independent company. Instead, it is owned by a couple of music industry giants. The most prominent of these is Universal Music Group (UMG), a leading music company that owns approximately 20% of the total shares in Spotify. The other controlling shareholder in Spotify is the world’s largest public internet company – “Amazon, Inc.” This online retail giant owns approximately 25% of the company’s total shares. The remaining shares are owned by employees, investors, and other music companies.
With this, because Spotify went public back in 2018, you now also have the opportunity to go and buy Spotify Shares. Meaning that you can also be part owner of this worldwide sensation.
Spotify isn’t the only competition in town when it comes to streaming music online. It has just as many competitors as it has clients and users. One of the most popular of these is Apple Music, which has also been around since the early 2000s.
Apple Music comes pre-installed on every iPhone, iPad, and iPod, and a subscription is only $9.99 a month for individuals. There are different plans available as well. One of which is a Family Plan that allows up to six users to access the service for $14.99 a month.
There are other subscription-based services such as Tidal, Google Play Music, Amazon Music Unlimited, Amazon Prime Music, and Pandora. Pandora is different, as it is free to use but has ads. You can pay $5 a month to get rid of the ads, but it’s not a subscription service.
There are several advantages to using Spotify as your preferred music streaming service. For starters, it is one of the most accessible platforms available.
Spotify gives the users option to listen to music from their computer and mobile devices, as well as from a variety of other devices, including smart TVs, video game consoles, etc. Spotify also has a large selection of music, with over 35 million tracks available in the United States and 70 million globally. The service’s “Explore” feature allows users to discover new music based on their listening habits, while its “Follow” feature enables users to follow specific artists and receive notifications when new music is released.
Another perk of using Spotify is that it is free to use. Although the free version of the service does come with some limitations, it is still a great way for new users to have a go at the platform. As well as a beginner plan that helps you understand what Spotify all is about. After your use, if you like what you see, you could then move on to a planned package as well.
While we have already mentioned above, there are a number of pros to using Spotify as your music streaming service of choice. However, there are some small disadvantages that you have to go through with using Spotify.
There are also a number of cons to using Spotify, including the service’s poor user experience, the fact that it offers a low payout rate for artists, and the fact that it is owned by several major music companies.
The Spotify UI is generally considered to be cluttered and confusing, as there is a large amount of information crammed into one screen. The service also makes it extremely difficult to find specific songs.
When it comes to artists, Spotify’s payout rate is notoriously low. There have also been certain reports that the company has altered its algorithms in order to suppress the number of plays a song receives.
If you are looking for a way to discover new music, Spotify is the one app/software for you. However, in order to enjoy all that the service has to offer, you need to pay for a subscription. The company’s free version is rather limited and comes with ads.
If you’re looking to enjoy the full benefits of Spotify, you should consider purchasing a premium subscription. With the subscription, you’ll be able to enjoy all the features of the free version without the pesky advertisements.
Have any questions regarding the topic “What is Spotify, and Who Owns it?” feel free to comment below.
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