Of these, 295 million premium members and 205 million ad-supported members.

Indeed, by 2022 Spotify had a total of 489 million users. Spotify follows a freemium business model, where it leverages a powerful free app with hundreds of millions of users. By 2022, Spotify had 489 million users, of which 205 million premium members and 295 million ad-supported users. Of these revenues, 87.4% or €10.25 billion came from premium memberships, while over 12.6% or €1.47 billion came from ad-supported members. Founded in 2008 with the belief that music should be universally accessible, it generated €11.7 billion in 2022. Spotify has a free ad-supported service and a paid membership. Spotify is a two-sided marketplace where artists and music fans engage. Martin Lorentzon’s net worth is highly tied to the market valuation of Spotify. Indeed, in 2023 with 11.5% of Spotify’s shares, he’s worth around $2.5 billion. How much is Martin Lorentzon Worth? Martin Lorentzon is the co-founder and one of the principal shareholders of Spotify. Martin Lorentzon: Co-founder of Spotify and Tradedoubler.Digital Business Models Podcast by FourWeekMBA.Business Strategy Book Bundle By FourWeekMBA.An Entire MBA In Four Weeks By FourWeekMBA.100+ Business Models Book By FourWeekMBA.

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