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Spotify’s CEO Daniel Ek letter to investors

LETTER FROM DANIEL EK

Our Path—A Note from Daniel Ek, Co-Founder, Chief Executive Officer, and Chairman

From the age of 4, my existence used to be about tune and era—by no means one with out the opposite. Over time, I noticed that via combining my two passions, I may create a brand new paradigm, person who helped lovers and the ingenious group—singers, songwriters, bands, everybody within the ingenious procedure—chart a brand new path for a whole business.

Spotify is the manifestation of the ones desires. Music used to be too vital to me to let piracy take down the business. There had to be some way to give folks get admission to to the tune they cherished whilst permitting creators to receives a commission for his or her paintings, and to amplify their creativity.

So I constructed an organization in response to a core set of values: innovation, hobby, collaboration, transparency, and equity. These values force how we paintings with the ingenious group and the way we deal with our customers. They’re why we are dedicated to a various team of workers in an open, trusting corporate tradition.

Today, Spotify is likely one of the biggest drivers of world tune income. We’ve helped repair a swiftly shrinking business to enlargement, and hooked up over one million artists with masses of tens of millions of lovers.

People repeatedly inform me how tune has helped them via existence’s largest moments—beginning and loss of life, euphoria and heartbreak. At Spotify, we wish to enrich, toughen, and lengthen the ones moments and connections. So whilst some firms depend completely on information, we take a unique means. We get started with human creativity, increase it with our experience and working out, after which leverage with the potency of algorithms.

Music has simply been the start. We’re an audio first platform—as a most sensible supplier of podcasts, we are additionally connecting audiences to the conversations that we predict will form the longer term.

And now we have even larger aspirations. We envision a cultural platform the place skilled creators can become independent from in their medium’s constraints and the place everybody can experience an immersive creative enjoy that allows us to empathize with every different and to really feel a part of a better complete. But to notice this imaginative and prescient, skilled creators will have to be in a position to earn a good residing doing what they love, the place monetization is on the core of an inventive proposition and no longer an afterthought. We care deeply about our creators and our customers and we consider Spotify is a win-win for each.

That’s our venture—to free up the opportunity of human creativity—via giving one million ingenious artists the chance to are living off their artwork and billions of lovers the chance to experience and be impressed via it.

Everyone who companions with us—staff, customers, the ingenious group, manufacturers, investors—must perceive what our venture way to us, how we make choices, and why.

We know that if we are going to be triumphant as an organization and as an business, now we have to assume, construct, plan, and believe for the long-term.

To construct a greater international via unlocking human creativity, we’re dedicated to developing a greater enjoy for customers—and to enabling extra creators to are living off their paintings. We firmly consider that ultimately, those priorities will supply better returns to all of our stakeholders.

That’s for the reason that long run is markedly other from the previous.

The previous type preferred sure gatekeepers. Artists had to be signed to a label. They wanted get admission to to a recording studio, they usually had to be performed on terrestrial radio to succeed in good fortune. Today, artists can produce and unlock their very own tune. Labels, studios, and radio nonetheless topic, however in a cluttered panorama, artists’ largest problem is navigating this complexity to get heard. We consider Spotify empowers them to spoil via.

About Joel Johnson

Joel S. Johnson writes for Business Finance Section in AmericaRichest.

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