Spotify executives, including co-founders Daniel Ek and Martin Lorentzon, sold a total of $1.25 billion worth of company stock in 2024, based on data from SEC filings analyzed by the Financial Times. Of this, approximately $900 million came from sales by Ek and Lorentzon, with Lorentzon making a single transaction of around $383 million in November.
This selloff occurred during a year of significant growth for Spotify’s stock, which rose nearly 145%, closing the year at $461.64 after reaching an all-time high of $506. Investors have shown confidence in the company’s efforts to improve profitability through initiatives in AI, advertising, and expanding into non-audio entertainment.
At the same time, the broader music streaming industry faced challenges. Slower subscription growth was reported by major labels like Universal Music, raising concerns about potential subscriber declines. Labels are exploring adjustments to family plans, artist royalty models, and higher-priced subscription options to address these issues.
Additionally, Universal Music and Amazon Music expanded their collaboration in 2024 to focus on “artist-centric” approaches aimed at increasing streaming revenue and subscriber engagement. Universal will support Amazon Music in scaling its service under the new agreement.
