Since then, it is serving music lovers with podcasts, music videos, and songs. Spotify was founded in 2006, but it got its launch in 2008. Spotify is made by the two words ‘Spot’ and ‘Identify.‘ Daniel and Martin just came up with random names for their streaming platform, and Spotify was misheard word by Daniel and ended up becoming its final name. The core of Spotify’s business lies in audio and music streaming. So, Daniel and Martin converted this problem into an opportunity because they realized that music streaming has a huge potential and founded Spotify in 2006.
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Before music streaming platforms were not popular, people used to download pirated music files which was a problem for the music industry. The idea to launch Spotify was to deal with music piracy. Daniel Ek, with Martin Lorentzon (Co-Founder of Spotify), founded Spotify. But, his journey didn’t go well as he failed to create a career in music. Daniel Ek, who is the founder and CEO of Spotify was always passionate about music. The musical journey of Spotify was born out of passion. Well, let us sink into the sound marketing strategy of Spotify to know its success secret. Spotify’s journey has not been so smooth, and despite facing backlash from Taylor Swift, who is a global icon in the music industry, and involved in a data leak controversy, the platform is leading. So, how does Spotify create such a huge user base? Among the music streaming apps like Apple Music, Amazon Music, Google Play, Youtube Music, and other music streaming platforms, Spotify has the highest market share of 32-34%. Spotify is ruling the music industry with over 345 million users and 155 million subscribers. But how did it become the best? Let’s check out the marketing strategy of Spotify to get this answer. Spotify is the world’s best music streaming platform, with millions of songs that suit your every mood. But to play them, you need a music streaming platform where you can find millions of songs. They say, “Music can lift any mood,” as there is music for every mood. Music is something that everyone loves, and jamming over music is the favorite hobby for most people.