Spotify Technology S.A. is a dominant force in the global music streaming market, with a large user base of over 600 million monthly active users, including 250 million paying subscribers.

The company generates most of its gross profit through subscription fees for access to a vast music library that includes popular tracks from major record labels. In addition to music streaming, Spotify also offers audiobook subscriptions and integrates podcasts into its standard app.

While podcast content is available for free on other platforms, Spotify's ad-supported users can access a similar music catalog, although they do not have the ability to customize their listening experience on demand. With its diverse offerings, Spotify has established itself as a leader in the competitive streaming landscape.