"New York city is our home in the USA", a Spotify spokesperson tells Billboard, "and we're happy to be building out the team here at 4 World Trade".

Spotify is scheduled to move into its new digs in the Financial District in 2018.

NY state is providing the company with as much as $11 million in rent-reduction credits available for the 15 years of Spotify's lease, state officials said. "This major commitment by a pioneer of the digital economy is further proof that Lower Manhattan has become the top destination for New York's most innovative companies".

The privately held music streaming service is headquartered in Stockholm, Sweden.

Singer's Trump dress sent her sales skyrocketing
Left: Villa at the 57th Annual GRAMMY Awards at the STAPLES Center on February 8, 2015. She gained about 60,000 followers on Twitter , bumping her 21,000 to over 81,000.

New York governor Andrew Cuomo said at an event in New York City, "We are proud to welcome Spotify to 4 World Trade Center and to have the future of music be a part of the bright future of our dynamic tech community". The state will provide $11 million in rent subsidies over 15 years in the tower, which is now fully leased. "Along with the concentration of media firms already here, and the forthcoming Performing Arts Center, Spotify's move is going to jump-start the growth of a vibrant local entertainment scene in Lower Manhattan". The new jobs created will include engineers, marketing professionals, analytics professionals, and staff to handle a host of other critical business functions. In the United States, subscriptions to Spotify and its rivals more than doubled a year ago alone.

Spotify is doing big things in 2017.

"Some of the best teams are here in NY", he said.

Cuomo closed out his announcement with his own official Spotify playlist. The company has yet to show a profit.


COMMENTS