Spotify is a digital streaming service that provides access to a large catalog of music, podcasts, and videos. Launched in 2006 in Sweden, the company first expanded to the United Kingdom and the United States before gradually becoming available in markets across the world. Since then, it has grown into one of the most widely used audio streaming platforms worldwide.
In 2018, Spotify made its debut on the New York stock market with a share price set at $165.90. The company was then valued at $29.5 billion. In June 2020, the music streaming site’s value went up to $44.96 billion. According to Semrush data, Spotify ranked as the 47th most-visited website globally in 2023, with nearly a quarter of its traffic coming from the United States. Its rapid growth is also reflected in its user base, which increased from 456 million monthly active users in 2022 to more than 690 million in 2025.
Spotify offers three subscription models that build on its free, ad-supported version. Its premium options include ad-free listening, offline access to downloaded tracks, and additional features such as unlimited skips and higher audio quality.
The platform is recognized for its music discovery tools, including artist, album, and song radios, curated playlists, and algorithm-driven, personalized recommendations and playlists that adapt to individual listening habits. These features are designed to help users explore new music and stay up to date with the latest releases of their favorite artists.
In 2018, Spotify launched Spotify for Artists, an online tool to help artists and record labels manage and customize their profiles on the service. Let’s take a closer look at Spotify for Artists and what makes the platform significant for musicians.