Daniel Ek Posts

Spotify acquires The Echo Nest

The Echo Nest Logo
Music streaming service Spotify has acquired The Echo Nest, which is a music discovery service. The Echo Nest was used for powering Spotify’s radio service. Spotify CEO Daniel Ek claims that this deal will lead to the “best music intelligence platform on the planet.”

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Spotify Launching Branded Apps Soon


Music streaming service Spotify will soon start adding apps from companies like AT&T, McDonald’s, Intel, and Reebok in the next few months to make the platform more intriguing for advertisers. This would help them offset the massive licensing costs that they are dealing with. Earlier today we reported that Spotify was going to likely hit over $800 million in revenues this year, but will likely hit over $60 million in net loss.
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Spotify Expected To Hit $889 Million In Revenue


Music streaming service Spotify currently has 13 million active users and 3 million of them are paying. The company is expected to hit $889 million in revenues this year, which would be up 160% from 2011. However an increase in revenues may also lead to increasing net losses. In 2011 the company’s net losses double to about $60 million.
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Spotify Launches App Platform For Developers


Spotify has announced a new app platform today at a press conference in New York City. Some of their earliest app platform partners include Rolling Stone and Last.fm. Third party application developers will be able to build HTML5 applications that utilizes Spotify’s features. Spotify will be able to find apps through the “App Finder” section in the desktop Spotify software.
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