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Spotify Technology SA changes streaming service name to Spotify Live

Spotify rebrands live audio streaming service, Spotify Technology SA on Tuesday re-branded its live audio-streaming service to Spotify Live and announced a slew of new content by top artists, as it doubles down on the format at a time when virtual events continue to attract audiences.

Spotify is a music and broadcast streaming service based in Sweden and launched on October 7, 2008. The platform is owned by Spotify AB, a company listed on the New York Stock Exchange since 2018 under the company Spotify Technology S.A. based in Luxembourg. Spotify’s global headquarters are in Stockholm, Sweden and the company’s Headquarters is in New York City.

Spotify offers digitally copyrighted music and broadcasts, including more than 70 million songs from record labels and media companies. Spotify operates on freemium, a free feature with ads and limited controls, while additional features, such as offline listening and commercial-free listening, are offered through a paid subscription. Users can search for music by artist, album, or genre, and can create, edit, and share playlists.

Spotify is available in most of Europe and America, Oceania, and some parts of Africa including South Africa and Mauritius and Asia. By the end of 2021, Spotify is expected to be operational in a total of 178 countries. The service is available on most modern devices including Windows, macOS, and Linux computers, iOS and Android smartphones and tablets and AI-enabled smart speakers such as the Amazon Echo and Google Home.

Rolled out in June 2021 as Spotify Greenroom, the service will be available as a stand-alone app and as a livestream function on the main Spotify app.
Listeners can tune into live programming and take part in live chats through the creator or artist`s Spotify page, the company said in a blogpost.

As part of the roll-out, the music group Swedish House Mafia will beam a DJ set on April 15 and comedian Hasan Minhaj will launch a live-streamed podcast on NBA playoffs starting in May.

The shows will be available in select markets, the company said.

Spotify History

Spotify was developed in 2006 by the team at Spotify AB, in Stockholm, Sweden. The company was founded by Daniel Ek, former CTO of Stardoll, and Martin Lorentzon, co-founder of TradeDoubler. The name Spotify comes from Martin Lorentzon and Daniel Ek when determining the name by shouting potential words at random, then Daniel Ek mishears “Spotify”, then they claim the etymology of “Spotify” comes from the practice of the words “spot” and “identify”.

Spotify was launched in September 2008 by Spotify AB, a Swedish start-up. As of June 2015 Spotify had more than 75 million active users, including about 20 million paid users. The number of paying subscribers reached 30 million in March 2016. Spotify Ltd operates as a holding company, headquartered in London, while Spotify AB handles research and development in Stockholm.

Some criticism from recording artists for Spotify

Spotify has faced some criticism from recording artists with claims that Spotify is unfair in terms of compensation to musicians. Unlike albums in a physical medium (cassette tapes, CDs) or sales of mp3 downloads which pay a fixed price per song or album, Spotify pays musicians based on their “market share” (the number of streams of their songs as a proportion of the total songs streamed on the service). Spotify distributes about 70% to rights holders, who will then pay the artists based on their respective agreements. Some argue the compensation is inadequate, which can be as low as US$0.0011 per stream, which has led to criticism from musicians. Notably Thom Yorke and Taylor Swift decided to withdraw their discography from Spotify, Taylor Swift claimed “I am not willing to contribute my life’s work to an experiment that I do not feel sufficiently compensates for this composer, producer and artist”. In response to the criticism, Spotify claims that it is benefiting from migrating a music business that was previously vulnerable to piracy and allowing them to generate much larger royalties than before by encouraging users to use their service on a paid basis.

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