Spotify is a Swedish audio streaming and media services provider, launched in October 2008. The platform is owned by Spotify AB, a publicly traded company on the New York Stock Exchange since April 2018. Spotify's primary business is providing an audio streaming platform, with the company claiming that it had 345 million active monthly users and 155 million paying subscribers as of December 2020. Unlike physical or download sales, which pay artists a fixed price per song or album sold, Spotify pays royalties based on the number of artist streams as a proportion of total songs streamed on the service. Spotify distributes approximately 70% of its total revenue to rights holders, who then pay artists based on their individual agreements. Spotify has faced criticism from artists and producers including Taylor Swift and Thom Yorke, who have argued that it does not fairly compensate musicians. Spotify has also faced criticism from artists and producers including Taylor Swift and Thom Yorke, who have argued that it does not fairly compensate musicians.
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