That amount is 10 times larger than what Spotify paid out to rights holders a decade ago.
The streaming giant said it added 1 million more subscribers than forecast for the second quarter, boosting revenue and profit margins.
CEO Daniel Ek wants Spotify to become "relentlessly resourceful." The company's financial results showed it was becoming less efficient as it led the music industry's renaissance.
The CEO has offloaded 675,000 shares in the company, according to a new Securities & Exchange Commission filing.
Neko Health, the company behind a 10-minute preventative health scan, is among the "moonshot projects" that have garnered Ek's support.
The streamer's CEO is meeting members of Congress this week to push passage of the Open App Markets Act.
“If you want to find out what Spotify is going to do … look for a big consumer need and a big creator need,” Ek tells Billboard. “That's when we will do something.”
On Spotify's "For the Record" podcast, Ek said Apple is acting as both "referee and player in this game."
CEO Daniel Ek said they will not be pulling the rapper's music unless his label requested it.
CEO Daniel Ek said Spotify would 'consider raising prices' in light of hikes at Apple Music.
