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Ch. 1: Overview of Marketing (Brief History and Mission Statement)



Spotify was founded in Stockholm in 2006 by Daniel Ek and Martin Lorentzon and although the company's head office is now in London, much of its research and development remains in Stockholm. The streaming service launched on October 7, 2008 and the company initially limited the sign-up for free services by making it invite-only. Paid-for subscriptions were made available immediately but despite this, Spotify reported a $4.4 million loss in 2008.
By 2012, the company had launched its service on Android smartphones.
In 2015, the company updated and rebranded itself, adding music videos and clips to the service. By that point, the service had over 25 billion hours of songs available.
Spotify’s mission statement is “to unlock the potential of human creativity by giving a million creative artists the opportunity to live off their art and billions of fans the opportunity to enjoy and be inspired by these creators.” The mission statement sheds more light on the goals of the company and how it wants these goals to become a reality

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