Sven Hans Martin Lorentzon is a Swedish entrepreneur and co-founder of Tradedoubler and Spotify. From 2013 to 2018 he was on the board of Telia Company. Since April 2019 he has been an expert on Sweden’s immigrants’ integration issues for the Moderate Party commission New Sweden Model.
What does Martin Lorentzon do for Spotify?
Spotify Founder and CEO Daniel Ek Discusses the Company’s Global Expansion Plans, and Recent Acquisitions With Spotify Founder and CEO Daniel Ek at the Aspen Ideas Festival in Aspen, Colorado. Spotify has acquired the Swedish music app for artists Adoptee to help it expand beyond its U.S. roots.
The company said Thursday that it plans to use the service to help promote emerging artists across Europe and Asia. Spotify is buying a Swedish startup called Adoptee, which has been working with some of the country’s biggest musicians on new ways to distribute their music outside of Sweden’s highly competitive streaming market. The acquisition comes as Spotify battles larger rivals like Apple Music, Google Play Music, Pandora and Amazon Music in a crowded market for music streaming services.
Spotify has been trying to expand internationally for more than a year, but has struggled to gain traction in the U.S. and other developed markets. Adoptee is a Swedish startup that helps musicians distribute their music outside of Sweden’s highly competitive music streaming market. Adoptee is led by Daniel Nordin, who previously worked as Spotify’s head of business and legal affairs in Stockholm. Spotify said it plans to use the service to promote emerging artists across Europe and Asia, as well as help them better understand how they are being marketed and promoted around the world. Spotify said it will continue to operate in Sweden, where it currently counts about 10 million subscribers, including several million in the country’s largest music market, Stockholm. In the U.S., Spotify has about 30 million subscribers.
Spotify said it will pay $100 million in cash for Adoptee, which was founded in 2016. The company said it expects to close the deal in the first quarter of 2019. Adoptee has worked with some of Sweden’s biggest musicians, including superstars like Robyn and Avicii as well as lesser-knowns like singer-songwriter Emilia Forsman. The company also works with companies to help them distribute their music outside of Sweden and is launching a service with French record label Universal Music Group that will allow artists to sell their music outside of France.
Career & Net Worth
As of NetWorthGorilla Martin Lorentzon has an estimated net worth of $3.7 Billion. He earned his wealth from his work as a blockchain entrepreneur and from investing in various startups like Spotify and Adoptee.
Lorentzon was hired by Spotify in October 2016 as head of business, legal affairs. He was promoted to general counsel in June 2017 and was appointed executive vice president of business affairs in February 2018. In December 2018, he resigned from all posts at the music streaming platform after it reported a $1 billion loss for the past year. He has been a board member of Adoptee since 2016 and is currently a board member at the blockchain startup Block.one.
Where did Martin Lorentzon go to school?
Martin Lorentzon was born in Stockholm, Sweden on November 6, 1974. He attended the Stockholm International School until the age of 13 and then went to high school at Stora Mellby Gymnasium. Lorentzon is a Swedish citizen and became a U.S. citizen in 1995. He graduated with a degree in economics from Uppsala University in 1996. In 1997 he received his doctorate degree from Uppsala University for his dissertation entitled “The Economic Effects of Internet-Based Services.”
Martin Lorentzon Wife
Martin is married to Swedish model and actress Anna Lorentzon. The couple has two children, a boy and a girl. The couple is a part of the “Gold Membership” club at Swedish tennis club BK Häcken. Finally the couple has been together since 2000 and are still in a committed relationship today.