Spotify Mission and Vision Statement Analysis
Spotify’s mission statement is “to unlock the potential of human creativity by giving a million creative artists the opportunity to live off their art and billions of fans the opportunity to enjoy and be inspired by these creators.” The mission statement sheds more light on the goals of the company and how it wants these goals to become a reality. It has the following key features:
- Improving lives. Spotify satisfies this feature by being an interactive and up-to-date platform that its users can depend on. The company acknowledges how critical digital space is for its target audience in creating sustainable livelihoods for themselves. Within Spotify’s platform, for instance, artists have a better chance of reaching out to a wider fan base. The targeting criteria used by the company ensures that the digital content created by an artist reaches the most appropriate audience, making it profitable for these individuals. In fact, this echoes what the mission statement means by enabling the artists ‘to live off their art.’
- Encourages the sharing of digital content. The primary undertaking of Spotify is to provide medium and boost dissemination of content to the users. It actually links the artists to the consumers of their work, something that tremendously encourages sharing. At the basic level, this is what Spotify does, however, it also incorporates commercial elements that ensure the content producers benefit from their work as shown in the first component of the mission statement.
- Global presence. To ensure that Spotify reaches out to as many users as possible, the management adopted a strategic approach that captures the needs of everyone at the global level. The approach means that there is no limitation to anyone who can use Spotify including both target audiences – artists and fans. As stated by Ek, the company looks to connect everyone, irrespective of cultural, genre and other boundaries. That explains why the company boasts of having a coverage of millions of artists and billions of fans, which can only be possible for a company whose reach goes beyond regional to a global scale.
Spotify’s mission and vision statements have given the company a global image with the emphasis they lay on operational effectiveness. As an online music streaming network, Spotify has recognized how to strategize and command a large following through its mission and vision statement. This is an element that the founders of this company, Martin Lorentzon, and Daniel Ek, stimulated from its early days in 2006, and truly, it has born the intended fruits having made the company grow into one of the biggest with over 217 million users.
All this growth has been due to these two corporate statements together with the core values of the company. A corporate vision statement is all about what the business target the management of the company wants to achieve, while a corporate mission statement basically defines the operations that a business embarks on to meet its objectives. Spotify’s vision statement emphasizes how influential the company is in matters related to digital content exchanges and how it enriches this.
On the other hand, the mission statement of this company emphasizes the direct benefits that both of its users get from the company. It also reveals that though they have different needs, the magnitude and the quality of experience they get is practically equal and well-balanced. These two corporate statements greatly depend on values such as sincerity, collaboration, and innovativeness among others that the company incorporates to act as a guide to the overall operations in the company.
The company judiciously implements is corporate statements and stays within the expectations of the core values, and this has gone a long way in giving it a strong foundation and consistency in what it does.
Spotify’s vision statement is “We envision a cultural platform where professional creators can break free of their medium’s constraints and where everyone can enjoy an immersive artistic experience that enables us to empathize with each other and to feel part of a greater whole.” The statement brings to light how strategic Spotify is to an extent of ensuring it offers win-win services for both the artists and the fans such that both not only feel appreciated but also part of the bigger picture or vision of the company. The statement incorporates the following points:
- Stimulate empathy and harmony. Spotify does not see itself simply as a service provider. The company takes a much bigger role, that exceeds satisfying the on-demand music needs in the industry, to having a more socially rooted role in society. Considering that the company mentions the culturalism within its platform, it is clear the company seeks to weave a sense of linkage creation between people in whatever it does. In this way, it brings global communities together.
- Break medium constraints. Within the music industry, the model used by Spotify identifies and addresses a critical element that had stalled the progress of the artists for ages – medium barriers. In response to this, the company came up with an open yet well-regulated option that provides the artists with an opportunity to test their creativity with little worries about the market for the content they produce. This is because that element is adequately taken care of by Spotify.
Spotify’s core values include “passionate, innovative, sincere, collaborative, and playful.” These values are what the corporation considers as the guiding principles that keep everything within the expectations of the management. They also ensure the success of the mission and vision statement by ensuring everyone stays realigned to the goals and objectives of the company.
Spotify understands that people do best when they engage in what they love most. In fact, this is exactly what fuels creativity that leads to new designs and approaches as expected in the presence of the first and second values. The corporation that characterizes Spotify adds to its success, and this is also a reflection of the company’s emphasis on sincerity and respect for each other. Just as stated in the old adage that ‘all work and no play makes Jack a dull boy,’ Spotify averts such boredom and laxity by promoting a culture of appropriate playfulness in its settings, and while interacting with others.
- Bhoot, G. (2017). Music Industry Sales: How streaming services such as Spotify, Apple Music, and TIDAL affect album sales.
- Chaffey, D., & Ellis-Chadwick, F. (2019). Digital marketing. Pearson UK.
- Collins, J. C., & Porras, J. I. (1996). Building your company’s vision. Harvard business review, 74(5), 65.
- David, F. R., & David, F. R. (2003). It’s time to redraft your mission statement. Journal of Business Strategy, 24(1), 11-14.
- Dawson, A., Hirt, M., & Scanlan, J. (2016). The economic essentials of digital strategy. McKinsey Quarterly, 3, 45.
- Doyle, P. (1992). What are the excellent companies?. Journal of Marketing Management, 8(2), 101-116.
- Salameh, A., & Bass, J. (2018, November). Influential Factors of Aligning Spotify Squads in Mission-Critical and Offshore Projects–A Longitudinal Embedded Case Study. In International Conference on Product-Focused Software Process Improvement (pp. 199-215). Springer, Cham.
- Shankar, V., Kleijnen, M., Ramanathan, S., Rizley, R., Holland, S., & Morrissey, S. (2016). Mobile shopper marketing: Key issues, current insights, and future research avenues. Journal of Interactive Marketing, 34, 37-48.
- Spotify – About.
- Voigt, K. I., Buliga, O., & Michl, K. (2017). Passion for Music: The Case of Spotify. In Business Model Pioneers (pp. 143-155). Springer, Cham.
- Vonderau, P. (2019). The Spotify effect: digital distribution and financial growth. Television & New Media, 20(1), 3-19.
- Wlömert, N., & Papies, D. (2016). On-demand streaming services and music industry revenues—Insights from Spotify’s market entry. International Journal of Research in Marketing, 33(2), 314-327.
How do I cite this article? I need the name of the author and the publisher/sponsor