A bit-known truth for you: Daniel Ek doesn’t take an annual wage from Spotify.

Then once more, why would he?

The only largest shareholder in Spotify on the shut of 2022 was Ek, who held 31.93 million bizarre shares within the firm, or 16.5% of the entire, in line with SEC filings.

At SPOT’s present share worth on the NYSE (USD $161.82) these 31.93 million shares are cumulatively value USD $5.17 billion.

Earlier right now (October 25), as noticed by MBW, Ek offered a relative thimbleful of his Spotify inventory… for a reasonably penny.

Based on a Spotify firm SEC doc, Ek right now filed to promote 400,000 shares in Spotify for whole proceeds of USD $64.21 million.

Based on the SEC doc (see beneath), the sale of Ek’s 400,000 shares was dealt with by JP Morgan.

Ek initially acquired these 400,000 shares by way of a inventory possibility train, revealed the submitting, again in July 2020.

At the moment’s share sale by Ek follows a separate offloading of stock by the Spotify founder in July, when he offered 675,000 shares, which on the time have been value a shade over $100 million.

In each circumstances – right now’s sale and the July share sale – Ek’s shares have been technically offered by D.G.E Investments Restricted, an entity not directly wholly owned by Ek himself.

In 2023 phrases, it’s a very good time for Ek to promote: Spotify’s share worth closed right now at $161.82, up 97.6% on the place it was on the shut of the primary buying and selling day of the yr, in line with Google Finance.

The corporate’s present market cap stands at USD $31.50 billion.

Spotify’s peak day-closing share worth up to now this yr got here in mid-July, when it hit $179.84.

Yesterday (October 24), MBW broke the news that Spotify is ready to introduce important changes to its royalty payout mannequin in Q1 2024.

Based on our sources, Spotify plans to introduce a system whereby every observe on its service has to hit a minimal variety of streams every year earlier than it might probably generate royalties on the platform.

Indications at this stage are that this minimal threshold quantity will probably be within the a whole bunch, relatively than the 1000’s or tens of 1000’s.

Additionally reported yesterday: Spotify added 6 million paying subscribers world wide in Q3 – the three months to finish of September.

The corporate ended Q3 with 226 million paying customers world wide, with a complete MAU (Month-to-month Lively Person) base of 574 million.

Talking to analysts on an earnings call about Spotify’s international worth rises this summer season, Daniel Ek stated that worth hikes are “positively half now of the arsenal of instruments we will deploy to continue to grow the enterprise, and I feel it’s best to anticipate us to make use of that after we see the suitable dynamics”.Music Enterprise Worldwide