Spotify: Mission Statement | Vision | Values ​​| 2022

Did you know that – As of November 2020, Spotify is 320 million Number of monthly active users

introduction

Spotify's mission, vision, and core values ​​focused on operational efficiency and established the organization's global image. Thus, through its vision and statement, Spotify has acquired and identified a path to command and strategy a massive following as a network for online music streaming.

since the early days 2006both Daniel Ek and Martin LorenzonAs the founders of the company, they incorporated this element into the operational activities of the business. This allowed the company to grow rapidly. 232 million Number of monthly active users. In 2020, Spotify is over 320 million Active monthly users and 144 million paid users. Monthly active users increased by 29% and paid users increased by 27% in Q4 2020. [1].

Despite solid growth, Spotify reported a loss of approximately $118 million for the quarter. This is a significant change since the company posted a quarterly profit in the third quarter. One of the key drivers cited by the company is its continued decision to offer discount plans to attract new users to its services.

Spotify Vision Statement

Spotify's vision is:

“We envision a cultural platform where professional creators can enjoy immersive artistic experiences, free from the constraints of media, and where everyone can empathize with each other and feel part of a larger whole. ”

In this regard, Spotify's vision is based on the objective of ensuring that its service provides a win-win situation not only for artists but also for fans. This gives them a sense of being appreciated and a sense of belonging to the company's vision and big picture.

Spotify's vision statement is based on:

• stimulate harmony and empathy: Spotify is focused on gaining a more prominent role rather than simply establishing itself as a service provider. The company aims to not only meet the needs and requirements of the industry by providing on-demand music, but also to play a deeply rooted role in society.

Spotify's idea lies in the fact that it weaves and develops a sense of connection and connection between people in everything it does, which is emphasized by the incorporation of culturalism within the company's platform.

• Breaking away from moderate restrictions and constraints: The application of moderate barriers has severely hindered artists' progress over time. However, the model utilized by Spotify within the music industry addresses and identifies this important element.

To solve this problem and provide better and improved opportunities for growth, Spotify has identified and adopted well-regulated yet open options for artists to test their creativity. did. Therefore, Spotify has been monitoring this factor and it has been appropriately addressed without putting pressure on artists. In November 2020, Spotify began testing a new service that gives artists and labels control over how their music is discovered on the platform. You can identify the music you want the system to prioritize and display that music to your listeners. personalization algorithm. [2]

Spotify's mission statement

Spotify's mission statement is based on the idea that:

“Our mission is to harness human creativity by giving one million creative artists the opportunity to earn a living from their art, and billions of fans the opportunity to enjoy and be inspired by art. It is about unlocking the potential of

Spotify's mission statement focuses on turning these goals into reality and is oriented towards achieving the company's goals from a broader perspective. In this regard, the main features of the company's mission statement are:

• Improving the lives of the general public: To ensure functionality is met, Spotify ensures that the platform is up-to-date and interactive. In this regard, the need to create sustainable livelihoods and provide critical digital space is Target audience It is highly recognized by the company.

Spotify's platforms give artists the opportunity to more effectively access and reach a broader fan base.

Additionally, we ensure that the digital content created by artists reaches the right audience according to targeting criteria, making it profitable for individuals. As a result, the idea of ​​enabling artists was born.To live with our art” is reflected in our mission statement.

• International presence: Spotify's management team strategic approach Reach as many users as possible and meet their needs on a global level. The basic idea of ​​this approach is to ensure that restrictions are applied to everyone, whether fans or artists, when using the app.

Regardless of genre, culture, or other boundaries, the company focuses on ensuring connection with everyone. This is evidenced by the fact that Spotify can reach users on a global level, with coverage reaching billions of fans and millions of artists. Spotify continues to expand its lead as the world's largest music streaming service.it has 144 million paid usersThat's more than twice as many users as second-place Apple, which has about 60 million users, and third-place Apple. amazon music At 55 million. [3]

Spotify's core values

Spotify's core values ​​are:

• innovation: Spotify is constantly innovating new products and solutions to improve your experience. In 2020, “Book of Basketball 2.0” and “morning toast” to create and stream both audio and video content on the app. [4]

• passion: The founder's passion for music is the reason he founded Spotify. Since its release in 2008, Over 60 million trucks Redefining the way people experience music, catering to music lovers around the world. [5]

• collaboration: Spotify values ​​collaboration, and has recently partnered with celebrities like Joe Rogan, Michelle Obama, and Kim Kardashian West. The company continues to experiment with new collaborative solutions and products, including: group session A feature that allows users to collaborate on playlists. [6]

• Transparency: Spotify's pricing model is transparent: $5/month for students, $10/month for individuals; Duo for $12/month, $15 per month for families. His 60% of users start as free users. [7]

• fairness: Streaming platforms were created to provide content creators with an equal and fair opportunity to benefit from their efforts. Spotify criticizes Apple's anti-competitive behavior After competitors announced Apple One packages that bundled streaming music services with other services such as TV and video games. $15/month. The bundle is a disadvantage for rivals like Spotify, which charges $10 a month just for its streaming music service. [8]

As a result, these basic principles are taken into account so that everything is checked and in place in line with management expectations. Therefore, Spotify's management strives to achieve alignment with the company's purpose and goals towards the overall success of the vision and mission statement.

Spotify recognizes the fact that people perform best when they engage with what they most admire.

As a result, new approaches and designs are developed from the emergence of creativity based on the core values ​​of the organization.

Additionally, the focus on respect and honesty is highly reflective of Spotify's success as the company interacts with everyone while promoting an appropriately playful culture within the company to avoid boredom.

References and further information