Amid controversy over Spotify’s songwriter payments, Daniel Ek cashes out $118.8 million in company shares
by Music Business Worldwide
Music Business Worldwide— Ek's move on the New York Stock Exchange comes amid criticism for Spotify for reducing the royalty rate via which it pays songwriters in the US Source
Fortune—Daniel Ek has opted out of a salary since 2017—but the Spotify CEO already cashed in $178 million worth of shares this year. Spotify execs have vested more than $250 million in shares since January, after laying off 1,500 workers in December.
Music Business Worldwide—A new ‘music-only’ subscription tier is coming to Spotify, confirms Daniel Ek and 4 other things we learned on the company’s latest earnings call. Spotify is making good on its aim to become more than a music streaming service Source
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