With the rise of digital technology and the time of digital transformation, Streaming based services are getting huge popularity. Spotify is a Swedish audio streaming service provider, started its journey back in 2006 by visionary entrepreneur Daniel Ek.
It has both a free and paid version. In the free version, users will have limited features with advertisements and limited control and Premium subscribers get all the facilities of Spotify.
The success of Spotify has been possible because of its strong mission and vision statement. Spotify’s mission statement says about exploring creativity, improving lives and unlimited opportunities for artists and fans. Spotify has 345 million monthly active users by 2020.
Spotify Mission Statement
Our mission is to unlock the potential of human creativity—by giving a million creative artists the opportunity to live off their art and billions of fans the opportunity to enjoy and be inspired by it.
If we dive deep into the Spotify mission statement, we will have a few points that make it stand out and transform it into a pioneering company.
Promoting Human Creativity:
Spotify is promoting creativity by unlocking human potential. As it is an open platform, so anyone can explore inner creativity and make audio content such as music and podcasts. Before the rise of Spotify as an online audio streaming service, it was quite difficult to show someone creativity in music due to medium hindrance. Streaming services like Spotify, Amazon Music, Pandora etc made it easy for vocal artists. Spotify is capitalizing on this through its outstanding apps, distributing system and marketing.
Living off by Art:
Spotify has created an open platform that connects artists and users. It created an immense possibility of earning by artistic work such as music and podcasts. Millions of artists are living off from the earning of their work through Spotify. It has empowered artists by making them economically solvent. Thousands of artists are earning millions of dollars based on their streaming reach and popularity of content. So if you have creativity, then you do not need to think back. Just show it to the world. This part of the mission honoured the artist by making them solvent.
Global Presence:
By Spotify, anyone, literally anyone, can enjoy music and podcasts all over the world. Before, it was quite impossible that an artist from the United States was releasing a music track and creating a fan base all over the world. It has increased the reach of audio content exponentially and has opened the door of immense earning and global popularity of good audio content. Thanks to Spotify like service providers for making such a platform and connecting the artist and fans globally.
Spotify Vision statement
Spotify’s vision is to be “a cultural platform where professional creators can break free of their medium’s constraints and where everyone can enjoy an immersive artistic experience that enables us to empathize with each other and to feel part of a greater whole.”
Breaking Medium Constraints:
One of The core points of Spotify mission statement is “eliminating the medium constraints for professional creators”. It’s an amazing vision of Spotify which is eliminating middleman between artist and users. Now there is no barrier between them. Its vision emphasizes a cultural platform that directly connects artists with their fans and followers. It decreases the publication costs of artists and increases the reach of the contents. Even users can express their emotion or interact by listening to music or podcasts. It created a realistic environment for artists and fans.
Stimulating Empathy and Harmony:
Spotify does not want to see itself as a mere service provider, but more than that. It envisioned creating an immersive artistic experience that enables empathy and harmony among the vast audience. What is an immersive experience? Immersive experience pulls a person to augmented reality, enhancing everyday life by making it more engaging and satisfying via technology. So Spotify envisioned creating a reality where artists and fans will feel nearer to each other.
Core values:
Spotify’s five core values include
- innovative,
- passionate,
- sincere,
- collaborative, and
- Playful.
Above 5 values are the guiding principles of Spotify. All the aspects of the company are checked and measured by the abovementioned values by the top management.
Innovative: As Spotify is an innovative service provider, so it tries to keep the innovative culture in the inner environment too. Spotify thinks that innovation is a default mind set. Spotify is an industry pioneer because it is innovative.
Collaboration: Spotify knows the strength of collaboration. Collaborative work makes everything easy.
Sincere: Spotify wants to build relationships based on trust and mutual respect. Spotify wants to keep itself transparent and honest to do a great job.
Passionate : Spotify is passionate enough. It is not afraid of dreaming big to achieve big.
Playful: Spotify is playful in the office. They are doing a great job but they are not too serious about it. Being playful and easy is the last, not the least core values of Spotify.
Reference:
- https://newsroom.spotify.com/company-info/#:~:text=Our%20mission%20is%20to%20unlock,and%20be%20inspired%20by%20it.
- https://hrblog.spotify.com/2016/09/02/spotifys-core-values/
- https://www.businessinsider.com/spotify-takes-top-slot-for-brand-intimacy-2020-4
- https://abcnews.go.com/Technology/spotify-us-launch-revolutionary-music-streaming-service/story?id=14075814
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