SPOT shares closed the day at $250.02 apiece on Wall Street – their lowest price since June. Can Daniel Ek ever make Spotify a profitable company Swedish billionaire Ek co-founded Spotify alongside Martin Lorentzon in 2006, launching the. It bears mentioning that while the overwhelming majority of responses to Ek’s words appear negative, a select few people have agreed with his assessment.Įk, for his part, has yet to formally address the widespread disapproval. Even harsher criticism came from musicians that “used to do well in the past,” starting with Dee Snider.ĭavid Crosby was more curt with his criticism, as was Joan Osbourne. “In the middle of the seemingly endless and expensive and expertise-requiring tasks that are involved in putting out a record, and so in the perfect frame of mind to honestly say: go fuck yourself, Daniel Ek,” critiqued a third disgruntled artist.
I know you had little regard for musicians but this really is pretty shocking, even by streaming service standards,” slammed another user. Daniel Ek, saying this just confirms how ignorant you are to artists and the actual creative process. But unequivocally, from the data, there are more and more artists that are able to live off streaming income in itself.“This is NOT why we create. “In private they have done that many times," Ek added, "but in public they have no incentive to do it. "What tends to be reported are the people that are unhappy, but we very rarely see anyone who’s talking about… In the entire existence I don’t think I’ve ever seen a single artist saying, ‘I’m happy with all the money I’m getting from streaming.' “Even today on our marketplace, there’s literally millions and millions of artists," Ek reasoned. “It’s quite interesting that while the overall pie is growing, and more and more people can partake in that pie, we tend to focus on a very limited set of artists,” Ek began, with regards to the reporting of streaming royalties. He addressed the issue of royalties head on in the interview, suggesting Spotify's popularity with artists who want to engage with it suggested it wasn't the bad guy. Ek added, “I feel, really, that the ones that aren’t doing well in streaming are predominantly people who want to release music the way it used to be released.”
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