The group's re-signing lifted K-pop stocks while Spotify's share price enjoyed a double-digit increase, bringing the index's year-to-date gain to 26.9%.
CEO Daniel Ek wants Spotify to become "relentlessly resourceful." The company's financial results showed it was becoming less efficient as it led the music industry's renaissance.
The executive will remain in his position until March 31 and an external search for his successor is underway.
The data comes from Spotify The post
The company's announcement that it would cut 17% of its global workforce added $2.6 billion to the streaming giant's market capitalization.
Co-founder and CEO Daniel Ek said the "Spotify of tomorrow must be defined by being relentlessly resourceful in the ways we operate, innovate, and tackle problems."
Chief executive Daniel Ek
The singer's total revenue from all streaming platforms h
After topping this year’s Spotify Wrapped, Swift will earn more money than any artist ever has on the platform.
Also this week: CTS Eventim and Sony Music Latin Iberia beef up their JV in South America, Spotify links with Africa & Middle East mobile provider Orange and more.
