Daniel Ek
Spotify Considers First U.S. Price Increase for Individual Premium Plans In 2023
Inflation has been at a 40-year high for most of 2022, and so far seemingly nothing has been safe from price hikes, save for Costco hotdogs and your Spotify subscription. Unfortunately, in the case of Spotify, the days of the individual benchmark $9.99/month plan for U.S. customers may soon be a thing of the past. The subject of a price increase has been a topic of frequent speculation in years past, but on Tuesday’s earnings call the streaming giant gave the first clear indication they are seriously considering one in 2023. Spotify’s individual plans have remained $9.99/month since the company first launched them in the U.S. in 2011. Speaking with analysts, CEO Daniel Ek said raising prices “is one of the things we would like to do and it’s something we will [discuss] wi...
Music’s Top Money Makers: The Highest-Paid Executives and Stockholders at Publicly Traded Companies
Kang Hyo-won is not a marquee name in the music industry. The South Korean producer is better known as Pdogg, the studio wizard behind hits by K-pop supergroup BTS and other acts on the roster of Korean entertainment company HYBE. Because Kang played a key role in HYBE’s global success, his employer gave him 128,000 stock options in 2016 that turned into about $35 million when Kang exercised them. (All currency conversions to U.S. dollars in this story are based on the average 2021 exchange rate.) That made Kang the second-highest-paid music industry executive last year among those whose earnings are publicly disclosed. Yoon Seok-jun (aka Lenzo Yoon) and Kim Shin-gyu, co-CEO of HYBE America and chief artist management officer, respectively, also benefited from HYBE going public. Yoon nette...
Music Drives Growth at Spotify, as Live Audio Rooms Deliver ‘Promising’ Results
Business is not as bad as you think, Spotify executives emphasized Wednesday in the company’s first investor presentation since 2018. While Wall Street had recently soured on the streaming platform, due to its high level of investment, company executives said they expect to grow revenue by moving into the audiobook business, and potentially moving into the education, news and sports spaces. Significantly, Spotify’s podcast business, which executives said has been dragging down gross margins, is expected to see its margins turn positive after 2022. “Some may also think that we’re a bad business, or at least a business with bad margins for the foreseeable future,” said Spotify CEO Daniel Ek. “And others may even think that the audio market just isn’t that significant.” Explore Expl...
Open Letter From Congress Rips Spotify’s Controversial Discovery Mode, Seeks Financial Transparency
Congressional leaders representing the Caucus on Multicultural Media are taking issue with a perceived lack of financial transparency on the part of Spotify. In a recent letter dated March 26th and signed by Democrat Representatives Tony Cardenas, Yvette D. Clarke, and Judy Chu, the caucus raised concerns that the streaming giant’s controversial Discovery Mode presents artists with a “prisoner’s dilemma,” when it comes to their ability to monetize on the platform. Discovery Mode, unveiled in November of 2020, is a relatively new feature on the Spotify platform which allows artists the option to boost the visibility of their songs on the platform in exchange for a lower promotional royalty rate. As the letter identifies, however, there is the cha...
Spotify’s Discovery Mode Under Scrutiny by Congress (Again)
Members of Congress are once again taking aim at Spotify’s controversial Discovery Mode feature, which allows artists and labels to receive a lower royalty rate on select tracks in exchange for higher priority in the platform’s algorithms. In a letter obtained by Billboard, dated March 29, 2022 and addressed to Spotify founder, CEO and chairman Daniel Ek, Reps. Yvette D. Clarke (D-NY), Judy Chu (D-CA) and Tony Cardenas (D-CA) – co-chairs of the Congressional Caucus on Multicultural Media – express concerns that Discovery Mode “lacks transparency” for both artists and consumers and ask the company to publish “on a monthly basis the name of every track enrolled in the program” and the agreed-upon discounted royalty rate for each. Variety first reported on the letter. “Choosing to accept...
Spotify CEO Addresses Joe Rogan’s N-Word Use, Doubles Down on Keeping Podcaster on Platform
Spotify CEO Daniel Ek has addressed the weeks-long blowback against his company, and for the “deeply hurtful” remarks that have surfaced from Joe Rogan, whose podcast triggered the latest round of controversy. In a letter sent to Spotify employees, seen by Billboard, Ek says he “strongly” condemns Rogan’s prior use of “racially insensitive language,” which, he continues, does “not represent the values of the company.” Explore See latest videos, charts and news See latest videos, charts and news The Swedish executive has spoken with Rogan and his team about of the content in the show, and, according to Ek, the message got through. The show will go on. Rogan and his under-fire podcast, the Joe Rogan Experience, has been the heavily criticized in recent weeks for the raconteur’s decision...
Spotify Sticking with Joe Rogan Despite Past Use of N-Word
Spotify CEO Daniel Ek called Joe Rogan’s past use of racial slurs “incredibly hurtful,” but doubled downed on keeping Rogan’s podcast on the streaming service. In a letter sent to Spotify staff on Sunday (via The Hollywood Reporter), Ek said he does “not believe that silencing Joe is the answer. We should have clear lines around content and take action when they are crossed, but canceling voices is a slippery slope.” Last week, amid a controversy surrounding Rogan’s penchant for spreading misinformation about COVID-19, the singer India.Arie shared a video highlighting 24 instances in which Rogan used the N-word during episodes of his podcast. Advertisement Related Video Spotify quietly removed 70 episodes of The Joe Rogan Experience — at Rogan’s request, according to Ek. Rogan also issued ...
Daniel Ek, Defense Tech and Why Some Artists Have Joined a Call to ‘Boycott Spotify’
With his 2,141 SoundCloud followers, veteran U.K. psychedelic-music producer Darren Sangita didn’t exactly wound Spotify when he pulled his music from the streaming service last month. “I’m a zed-list music celebrity,” he says. But he couldn’t support a company whose founder, Daniel Ek, invested more than $114 million in Helsing, a European security startup that manufactures artificial-intelligence software to “keep liberal democracies from harm.” “The circumstantial evidence points to a massive investment in military/AI tech,” says Sangita, who runs indie label Sangita Sounds. “I was just enormously disappointed. Are there not any other alternatives that Mr. Ek could have possibly thought about investing in to make the world...
Skee Mask Removes Music From Spotify After Founder’s Investment In AI Technology
German DJ and electronic music producer Skee Mask has removed his catalog from music streaming giant Spotify. Last year, Skee Mask released his album Pool physically and digitally, minus streaming platforms. He took to social media to announce his reasoning behind the removal of his music, citing that Spotify is giving their money to the “development of warfare” instead of “actual progression in the music business.” “it’s done, all of my shit is gone from spotify..” Skee Mask wrote. “i have nothing against streaming in general, it’s one of many ways to make music even more accessible! for me it’s about how much / less the creators behind the music receive in terms of value, respect or space. i’m aware of the fact that ...
Songwriters Get Hit In the Wallet by Spotify, Apple Music, and Pandora… Again
Digital service providers Spotify, Apple Music, Google, and Pandora have submitted paperwork stating what they believe songwriters’ royalty rates should be for the years 2023 to 2027. The Copyright Act states that every five years Copyright Royalty Judges oversee discussions to determine what streaming services like Spotify and Apple Music pay as a mechanical royalty rate to songwriters and publishers. These platforms are notorious for incredibly low payout rates and “exploitative practices” when it comes to paying music creators. Spotify co-founder and CEO Daniel Ek. Magnus Höij/Wikimedia Commons The National Music Publishers Association (NMPA) has fought for higher mechanical royalty rates for music publishers and songwriters. The organization’s president and...
Patrick Vieira says Daniel Ek will try again to buy Arsenal, time for a change
Arsenal legend Patrick Vieira has said that Daniel Ek will make a fresh bid to buy the club despite the owners having no intention to sell. Ek initially revealed his desire to buy the club last month when the fans protested against the ownership of the Kroenke Sports & Entertainment (KSE) group. Since then, club legends such as Thierry Henry and Dennis Bergkamp have publicly backed the Swedish billionaire to take charge of the Gunners. Ek recently confirmed that he made an opening bid to KSE, but the offer was rejected with the Kroenkes stating that they don’t need the money. Vieira has now revealed that the Spotify co-founder will make a fresh approach as he is a huge fan of the north London club. He added that the 38-year-old is prepared to stay patient and wait for the opportunity t...
Swedish billionaire ‘very serious’ about Arsenal takeover bid, has already secured funds
Spotify founder and Swedish billionaire Daniel Ek has said that he is ‘very serious’ about buying Arsenal, and he has already secured funds for a potential takeover bid. Ek declared his interest in buying the north London club last week, when they were fierce protests from the fans voicing their disapproval against owner Stan Kroenke. Kroenke and his son Josh have since released a joint statement that they are ‘100% committed‘ to the club, and have no plans of listening to any offers. In an interview with CNBC, Ek has now said that he is very serious about buying his favourite club Arsenal, and he has already secured funds for a potential takeover. He said: “I’m very serious (about the offer to buy Arsenal). I have secured the funds for it and I want to bring what I think is a very compell...
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