Spotify opens office in Finland

Swedish music streaming service Spotify aims to become the largest distributor of digital music in Finland.

The Swedish Internet-based music streaming service Spotify has opened an office in Helsinki. Spotify’s new office will initially focus on advertising sales and co-branding. Spotify aims to include more Finnish artists in the service and organise local campaigns like concerts.

Finland is an attractive market area for Spotify because the Finns are interested in paying for online content, according to Öjje Holt, managing director of Spotify Nordics. The share of digital distribution from the total music sales in Finland is currently 22%, while in Sweden the figure is already more than 50%.

Music services based on membership fees grew by 77% during the first half of this year compared with the same period one year ago, according to statistics from IFPI Finland. “At the moment Spotify is responsible for the greatest growth in the digital markets,” says Tommi Kyyrä from IFPI Finland. The number of Finnish Spotify users has doubled from a year ago.

Spotify is already the largest distributor of digital music in Sweden and Norway, and also operates in the Netherlands, Spain, France, Britain, and the United States. There are more than ten million Spotify users around the world.

Source: Helsingin Sanomat