Skip to main content

As rich as Mick Jagger! 29-year-old Spotify founder rockets into top 10 of Sunday Times Music Millionaires Rich List

2

View comments

Spotify co-founder Daniel Ek has earned £190million in just six years from a music service some predict is poised to overtake Apple's iTunes.

Ek founded the company in 2006, and now has 10million users, including three million paying subscribers.

Ek was ranked 10th in the Sunday Times Music Millionaires Rich List - joint with Mick Jagger.

Spotify founder Daniel Ek has earned £190 million in just six years from a music service some predict is poised to overtake Apple's iTunes

Ek began writing computer code aged just five, and started a website business aged 14.

He was a millionaire aged 23, having dropped out of his engineering degree.

Some predict that Spotify could overtake Apple's iTunes as the main source of web music in just two years.

Ek's company recently announced new software that would allow any website to embed free Spotify music - making the site like a 'YouTube for music.'

Songs from the streaming service can be embedded easily - for free - in any website, just like YouTube videos.

It's a highly aggressive move designed to take on Apple's paid-for 'music shop' with a cheaper alternative. Spotify songs are free to try, but then users pay a subscription.

Spotify recently hit 10 million users worldwide after a partnership with Facebook which allowed web users to access Spotify via their Facebook log-in

PLENTY OF NOTES: THE TOP TEN RICHEST PEOPLE IN MUSIC

1. Clive Calder - record executiveWorth: £1.35billion

2. Sir Cameron Mackintosh - Theatrical producer£725million

3. Sir Paul McCartney - former Beatle£665million

4. Lord Lloyd Webber - composer£590million

5. U2 - rock band£519million combined

6. Simon Fuller - producer£375m

7. Simon Cowell - producer£225million

8. Sir Elton John - singer£220m

9. Michael Flatley - producer£192m

10. (tied) David and Victoria Beckham£190million

Sir Mick Jagger - former Rolling Stones front man£190million

Daniel Ek - Spotify founder£190million

Source: Sunday Times Rich List Music Millionaires

Spotify's songs are available as streams to all users of the service, whether free or paid, and can also be downloaded to apps on iPhone, Android and PC.

Spotify recently hit 10million users worldwide after a partnership with Facebook which allowed web users to access Spotify via their Facebook log-in.

The site now has 3 million paying subscribers, paying around £10 per month to access the streaming service via phones and desktops.

The digital music market is currently dominated by Apple'siTunes, which offers listeners the chance to buy and keep music track by track.    

But digital music streaming companies, of which Spotify is the most successful, have begun to challenge that model by offering large libraries of music to listen to and share for a flat fee.     

Spotify has more than 10million active users and over 3million paying subscribers for its on-demand service, which offers unlimited streaming for free to those prepared to tolerate ads, or a premium rate of $10 a month.   

The European start-up, which is backed by digital entrepreneur and Facebook founding president Sean Parker, has grown fast in recent months since launching in the United States and sealing a partnership with Facebook.    

Parker has invested $15million of his estimated $2billion in the music-streaming company, which is already the number two music service in Europe after iTunes.

Justin Timberlake as Sean Parker in the film 'The Social Network': The tech billionaire, who was Facebook's first president, claims that Spotify will overtake Apple's iTunes store within two years if it keeps growing at its current rate

Sean Parker with Kate Almay: The tech entrepreneur is seen as having ushered in the era of internet music with his company Napster

'If Spotify continues growing at its current rate in terms of subscribers and users, we will overtake iTunes in terms of the amount of revenue we contribute to the music labels in under two years,' says Parker.

Spotify now has 10 million signed-up users and 2.5 million paying subscribers. CEO Daniel Ek points out that subcribers pay £120 a year, whereas customers of iTunes store only pay £60 on average

Readers who are not registered Spotify users will have to sign up to an app that will run in the background, but will not have to leave the publisher's site.   

‘YouTube got to where it is today because people are able to embed YouTube videos easily in any website,’ Giles Cottle, principal analyst at research firm Informa Telecoms & Media, wrote in a note.   

‘Any web developer will tell you that, in an online world, you have to offer and bring content to people where they want to be, not make them come to where you are.’        





Popular posts from this blog

Study Abroad USA, College of Charleston, Popular Courses, Alumni

Thinking for Study Abroad USA. School of Charleston, the wonderful grounds is situated in the actual middle of a verifiable city - Charleston. Get snatched up by the wonderful and customary engineering, beautiful pathways, or look at the advanced steel and glass building which houses the School of Business. The grounds additionally gives students simple admittance to a few major tech organizations like Amazon's CreateSpace, Google, TwitPic, and so on. The school offers students nearby as well as off-grounds convenience going from completely outfitted home lobbies to memorable homes. It is prepared to offer different types of assistance and facilities like clubs, associations, sporting exercises, support administrations, etc. To put it plainly, the school grounds is rising with energy and there will never be a dull second for students at the College of Charleston. Concentrate on Abroad USA is improving and remunerating for your future. The energetic grounds likewise houses various

Best MBA Online Colleges in the USA

“Opportunities never open, instead we create them for us”. Beginning with this amazing saying, let’s unbox today’s knowledge. Love Business and marketing? Want to make a high-paid career in business administration? Well, if yes, then mate, we have got you something amazing to do!   We all imagine an effortless future with a cozy house and a laptop. Well, well! You can make this happen. Today, with this guide, we will be exploring some of the top-notch online MBA universities and institutes in the USA. Let’s get started! Why learn Online MBA from the USA? Access to More Options This online era has given a second chance to children who want to reflect on their careers while managing their hectic schedules. In this, the internet has played a very crucial in rejuvenating schools, institutes, and colleges to give the best education to students across the globe. Graduating with Less Debt Regular classes from high reputed institutes often charge heavy tuition fees. However onl

Sickening moment maskless 'Karen' COUGHS in the face of grocery store customer, then claims she doesn't have to wear a mask because she 'isn't sick'

A woman was captured on camera following a customer through a supermarket as she coughs on her after claiming she does not need a mask because she is not sick.  Video of the incident, which has garnered hundreds of thousands of views on Twitter alone, allegedly took place in a Su per Saver in Lincoln, Nebraska according to Twitter user @davenewworld_2. In it, an unidentified woman was captured dramatically coughing as she smiles saying 'Excuse me! I'm coming through' in the direction of the customer recording her. Scroll down for video An unidentified woman was captured dramatically coughing as she smiles saying 'Excuse me! I'm coming through' in the direction of a woman recording her A woman was captured on camera following a customer as she coughs on her in a supermarket without a mask on claiming she does not need one because she is not sick @chaiteabugz #karen #covid #karens #karensgonewild #karensalert #masks we were just wearing a mask at the store. ¿ o