Spotify was founded in 2006 by Daniel Ek and Martin Lorentzon from Sweden. Daniel Ek remains the CEO. Spotify has over 50 million songs in its catalog, which grows by over 40,000 new songs daily. In 2019, Spotify's annual revenue was $7.44 billion, a 29% increase over 2018. Spotify Premium costs $9.99 per month but there is also a free version with ads. Artists are paid between $0.00331 and $0.00437 per stream. Spotify's key features include algorithmic and user curated playlists, user profiles that can follow each other, and playlist placement opportunities for artists.