Spotify has become the world’s most valuable music company

Sherilyn DeNucci
Supporting

Spotify is now the world’s largest and most profitable music company, according to NPR.

The music streaming company is now worth approximately $25 billion, contradicting critics (including Steve Jobs) who believed that it would not be a sustainable company. All of the founders of illegal streaming site Pirate Bay are now in prison, BitTorrent is almost obsolete, and paid iTunes downloads are decreasing by 25% each year. It seems unlikely that Spotify is going anywhere anytime soon.

Daniel Ek, the CEO, currently owns shares of $4 billion, which makes him the richest man in the history of music — at only 35 years old.