Spotify’s top content executive, Stefan Blom, recently announced his intention to leave the music streaming service company, just as Spotify prepares for its 2018 IPO. The announcement was made via an internal memo. Blom, who was in charge of Spotify’s original content efforts, was also responsible for Spotify’s major contracts with music labels. Spotify has not yet named a person who will take over for Blom.
At Spotify, Blom reported to CEO Daniel Ek and has been working with the music streaming company since 2014 when he joined as the chief strategy officer. He has been serving in his newly vacated role since 2015. His role involves overseeing music licensing, creator partnerships, and content for Spotify’s music streaming service. Just last year, Blom helped Spotify gain critical licenses with big music labels that made way for the company’s IPO. He was also in charge of the company’s efforts to move into video, which failed to gain any traction.
“We are grateful for Stefan’s many contributions to the company over the years, and we wish him the very best,” a company spokesman said in a statement. “Looking ahead, the content team is well positioned to execute on our strategy.”
Before his association with Spotify, Blom worked for a number of years with EMI as an executive in which he eventually became the CEO of EMI Nordic division. Prior to joining EMI, Blom was the head of products and services at telecom operator, 3 Scandinavia.
Spotify recently announced that it had reached 70 million paid subscribers which is a major increase from 60 million subscribers over the summer. With an IPO just around the corner, Blom’s abrupt departure could create a stir among its potential investors, however the 70 million subscribers could help the company gain some positive drive with regard to its IPO. The company is expected to directly list on the New York Stock Exchange.
Just recently, the company was in the news due to a $1.6 billion copyright lawsuit filed by Wixen Music Publishing due to Spotify’s use of tens of thousands of songs on its platform. The lawsuit alleges that Spotify is using its titles without a proper license.