Daniel Ek, the Chief Executive Officer of Spotify, sold 250,000 shares of Spotify stock last week, raking in $57 million from the divestment. This sale coincided with Spotify’s strong performance in the fourth quarter of 2023, marked by stellar financial earnings. Spotify, the leading music streaming platform, reported a noteworthy increase in its current active users, boasting a remarkable 23% increase to reach an impressive 602 million users. Furthermore, the paying subscriber base experienced a substantial 15% growth compared to the previous year, reaching 236 million subscribers.
Ricky Iuliucci is a journalist for We Rave You, specializing in covering the latest news and updates in the music industry. With a focus on technology, plugins, and industry events, Ricky provides insights and information to music producers and enthusiasts alike.