Digging deep into the numbers of the annual report covering the U.S. recorded music business.
Outgoing chief Michael Weissman is leaving the company, while Fred Wilson will replace founder Alexander Ljung as chairman of the board.
The service will launch in late March with the world’s “largest classical music catalog” boasting over 5 million tracks.
The average number of paid subscriptions reached 92 million, helping buoy the industry to a seventh straight year of growth.
During an appearance at a Morgan Stanley conference Wednesday, Robert Kyncl said companies that haven't raised prices are contributing to the undervaluing of music.
The Middle East-based music streaming company says it expects to become profitable later this year.
A slew of new and updated features represent "the biggest" transformation the platform has undergone in a decade, said CEO Daniel Ek.
“If you want to find out what Spotify is going to do … look for a big consumer need and a big creator need,” Ek tells Billboard. “That's when we will do something.”
In its latest Loud & Clear report, the company reports that more than 57,000 artists crossed the threshold last year, a 144% increase from 2017.
Revealed at Stream On, the feature is designed to remedy the "disconnect between where music is being teased and where music is actually being streamed."
