Latest news with #DanielEk
Middle East Eye
2 days ago
- Business
- Middle East Eye
Spotify faces boycott calls over CEO's investment in AI military startup
Spotify, the world's leading music streaming platform, is facing intense criticism and boycott calls following CEO Daniel Ek's announcement of a €600m ($702m) investment in Helsing, a German defence startup specialising in AI-powered combat drones and military software. The move, announced on 17 June, has sparked widespread outrage from musicians, activists and social media users who accuse Ek of funnelling profits from music streaming into the military industry. Many have started calling on users to cancel their subscriptions to the service. 'Finally cancelling my Spotify subscription – why am I paying for a fuckass app that works worse than it did 10 years ago, while their CEO spends all my money on technofascist military fantasies?' said one user on X. On Reddit, a user wrote: "When tech is weaponized, our subscriptions become bullets. Spotify's hands aren't clean – boycott the silence, boycott the blood. No art should fund destruction." New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters This isn't the first time Spotify has faced boycott calls over Ek's invesment in Helsing. In 2021, many users and artists called for a similar boycott after Ek announced a €100m investment in the company. Middle East Eye contacted Spotify and Ek for comment, but did not receive a response by the time of publication. so instead of paying artists livable wages for their art, the ceo of spotify decided to invest hundreds of millions of dollars into an ai military start-up company? and is now currently chairman of said company…? right, okay, fuck daniel ek and fuck spotify. — apple (@applezbian) June 25, 2025 Many users drew attention to Spotify's payment system, which has been criticised for years – by both major pop stars and independent and emerging artists and labels – due to its royalty rates. Many users expressed frustration that Spotify's CEO was pouring hundreds of millions of dollars into warfare technology while continuing to pay artists notoriously low royalties. The United Musicians and Allied Workers, a union of musicians who have organised and demonstrated for better royalties at Spotify, called Ek "a warmonger who pays artists poverty wages". "The people running our music industry are the same people 'doubling down' on AI military technology. To build a fair and just music industry, we also must dismantle imperialism in all its forms," the union said in a statement on X. Another user said: "Your streams are paying for military drones, while artists starve. This is evil. Ek cashing in on public stock value (which artists see none of) and reinvesting his profits in murder machines." I had just made a spotify premium account this month but I was now informed that the ceo is using the money to support a military ai startup so I cancelled my subscription and put that as my reason. Disarm spotify — zoe (@daisyjonesswift) June 25, 2025 Singer-songwriter Laura Burhenn addressed the issue in an Instagram video, stating: 'For as long as they've existed, [Spotify] have grossly underpaid musicians, but the money they've been making from subscriptions has been lining their pockets, and now we know where it's gone.' She urged artists and listeners to cancel their subscriptions, saying: 'Your labour, your money has gone directly to fund the war machine.' As the backlash grows, many said they are turning to alternative streaming platforms and urged others to support artists directly as a form of boycott. not just festivals—seeing the spotify CEO now heading up a so-called "military start-up", at some point musicians and listeners are going to need to really reckon with and confront the ways our music is being used to usher this shit ahead. — lelu (@lelulolololol) June 25, 2025 "Stop using Spotify. It sounds like they treat artists like shit, and this guy [Ek] is obviously another wannabe tech-broligarch trying to make big bucks off keeping shitheads in power," said one Reddit user. "Defund the broligarchy! Buy music from artists on Bandcamp or use a lesser evil like Tidal.' Another user on X agreed. "Officially switched back to tidal for music streaming. spotify bought a military ai company for $690m while still paying jack shit to artists and my pennies aren't going towards that anymore once and for all."
Yahoo
4 days ago
- Business
- Yahoo
Spotify's $694M Bet On AI War Tech: What Daniel Ek's Helsing Move Signals For Investors Watching The Defense Boom
European artificial intelligence defense startup Helsing a €600 million ($694 million) funding round on Tuesday, led by Prima Materia, the investment firm founded by Spotify (NYSE:SPOT) CEO Daniel Ek and Shakil Khan, an earlier investor in Spotify. The company said the new funding will help advance Europe's "technological sovereignty" by scaling domestic production of AI-driven defense systems. Helsing uses artificial intelligence to support military decision-making by connecting real-time sensor and weapons system data with advanced software architectures, according to its website. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can Founded in 2021, the company operates in Germany, France, and the U.K. Its product portfolio includes platforms like the HX-2, which reflects the company's move to integrate AI with battlefield-ready hardware. According to Helsing, its technologies are already being deployed under several government contracts, though specific client names have not been disclosed. The latest investment round includes contributions from existing stakeholders Lightspeed Venture, Accel, General Catalyst, Plural, and Swedish defense firm SAAB. New participants include BDT & MSD Partners, according to Helsing. Ek, who also serves as Helsing's chairman, said the investment reflects an urgent need to bolster Europe's security architecture amid rising global tensions. "As Europe rapidly strengthens its defense capabilities in response to evolving geopolitical challenges, there is an urgent need for investments in advanced technologies that ensure its strategic autonomy and security readiness," Ek said in the statement. Trending: Maximize saving for your retirement and cut down on taxes: . Helsing's prior valuation stood at approximately €5 billion following a €450 million round led by General Catalyst in 2023. The company declined to confirm its current valuation due to pending regulatory approvals, CNBC says. The funding surge reflects a broader shift in the European investment landscape. According to the NATO Innovation Fund, venture capital backing for defense, security, and resilience startups in Europe reached a record $5.2 billion in 2024. That figure represents a 30% increase over the past two years, despite a 45% contraction in general VC markets over the same period. According to CNBC, ongoing conflicts such as the war in Ukraine and conflict between Israel and Iran have driven investor interest in technologies that enhance operational readiness and strategic autonomy. Helsing is among a growing list of AI-focused defense startups offering governments and militaries tools to manage complex warzones through automation and real-time says it will use the newly raised capital to advance its AI-based software platforms and scale integrated systems like the HX-2, a mass-producible strike drone designed to operate in electronic warfare environments. The HX-2 is part of the Altra platform, which enables coordinated swarm strikes and integration with battlefield intelligence systems. According to Helsing, the company is already executing large contracts for democratic governments, though specific partners have not been disclosed. As Europe ramps up its domestic defense capabilities, Helsing may emerge as a strategic player at the intersection of AI and national security. With financial backing from Spotify's leadership and top-tier investors, the company may play a defining role in shaping the continent's military future. Read Next: Here's what Americans think you need to be considered wealthy. Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Spotify's $694M Bet On AI War Tech: What Daniel Ek's Helsing Move Signals For Investors Watching The Defense Boom originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Irish Times
5 days ago
- Business
- Irish Times
Spotify founder bets big on Europe's war economy as defence stocks surge
Daniel Ek isn't known for military manoeuvres. However, the Spotify founder's bet on Helsing, an AI defence start-up, has made him an unlikely figurehead in Europe's arms race. His investment vehicle is leading a €600 million round that values the German group at €12 billion, more than double last year's mark. It's not the only thing surging. European defence stocks have soared this year, fuelled by war in Ukraine, threats from Russia and a new UK-EU security pact. Germany's Rheinmetall is up 190 per cent; German tank maker Renk 270 per cent; France's Thales 80 per cent; British multinationals BAE Systems and Rolls-Royce some 70 and 50 per cent, respectively. The Stoxx Europe Aerospace and Defence index has jumped 45 per cent. The bullish case? A decades-long rearmament, led by NATO states eyeing up to 5 per cent of GDP for defence. The bear case? Patchy procurement, political bottlenecks, and increasingly elevated valuations in a defence bull market now over three years old. READ MORE Still, investor appetite is ravenous. Morningstar notes a new defence ETF has gathered €2.5 billion in just three months. Even peace in Ukraine, analysts agree, wouldn't end the boom – just shift it to replenishment and deterrence. As Helsing's soaring valuation suggests, the war economy may be just getting started.
The Verge
19-06-2025
- The Verge
Spotify's HiFi lossless streaming might really, finally, actually be coming soon
We've been waiting for Spotify's lossless streaming for more than four years, but there are some new and promising hints that the feature might finally arrive sometime soon. The X account for Spicetify, a command-line tool that lets you customize the Spotify client, says that a new version of Spotify includes some hidden mentions of lossless. In a screenshot the account shared, for example, lossless appears in the sidebar to connect a device. Another screenshot shows lossless as an option for streaming quality in the app's settings. The Spicetify account also says it has seen code that lossless will be available on Spotify Connect and in the web player. To be clear: Spotify's lossless streaming still isn't available yet. But these small lossless mentions and recent reporting indicate that the company may be ready to add lossless at long last. Spotify initially announced a 'Spotify HiFi' tier in 2021 that it intended to launch that year, but that didn't happen. Spotify CEO Daniel Ek said in 2024 that the company was working on a 'deluxe' version of Spotify. And in February, Bloomberg reported that Spotify was aiming to roll out a new 'Music Pro' tier with features like higher-quality streaming by the end of this year. The tier could cost as much as $5.99 per month more than its current subscriptions, Bloomberg says.
Scottish Sun
19-06-2025
- Scottish Sun
Most expensive Spotify bills ever ‘incoming' as membership change ‘makes your songs sound even better for extra fee'
It's been more than four years since the company first announced it was working on 'lossless audio' HEAR WE GO Most expensive Spotify bills ever 'incoming' as membership change 'makes your songs sound even better for extra fee' SPOTIFY bills are set to become more expensive than ever amid reports the global streaming service is moving forward with its long-awaited "lossless" audio feature. The new development was spotted by a reverse engineer who found multiple mentions of "lossless" in Wednesday's build of the Spotify desktop app. Advertisement 1 This is the first sign the 'lossless audio' service is still under development at Spotify These code snippets mainly refer to help cards that would appear to inform users about what the lossless tier offers and how to use or troubleshoot it. It's been more than four years since the company first announced its plans to launch a "lossless audio" tier that has yet to arrive. While there have been numerous leaks and teases from company execs, this is the first sign the service is still under development. Sites such as Tech Crunch are reporting that the code indicates the feature could even be getting closer to launch. Advertisement According Chris Messina, the engineer who uncovered the roll out, one card says, 'Lossless music, now in premium,' while another describes it as the 'best sound quality on Spotify for music in up to 24-bit/44.1 kHz'. Some of the cards warn users that particular songs aren't available in lossless or when their device has bad connectivity, which could affect playback. Another notes that lossless music is 'best enjoyed on devices compatible with Spotify Connect and/or wired devices.' In addition, Reddit user u/bendotlc noted that other changes were seen in the latest version of the mobile app, where the code now mentions lossless. Advertisement How to save money on Spotify They wrote: 'Say hello to the best sound quality on Spotify. Listen to high-fidelity music in up to 24-bit/44.1 kHz.' The user claimed the feature is actually present in the app, but is currently disabled. Of course, code references don't mean the lossless feature is coming anytime soon. Leaks and code references have appeared before, and yet the high-quality audio tier never arrived. Advertisement When asked directly about lossless and other plans for premium tiers on recent earnings calls with investors, Spotify execs, including CEO Daniel Ek, would only hint that the company was investing in premium products for 'super fans'. They wouldn't give a time frame on when these or any other higher-quality streaming options would finally launch. Most recently, Spotify Chief Business Officer Alex Norstrom told investors on the Q1 2025 call that Spotify was still investing in more premium tiers. 'Now, with regards to higher tiers, we see great potential in them as we've mentioned before,' he said. 'So creating higher tiers around new offerings is something we are working towards as it really opens up new opportunities to delight users." Advertisement When Spotify first announced its plans for Spotify HiFi, as it was then called, in 2021, it said that the service would offer users music in 'CD-quality, lossless audio format.' It had run tests of a lossless option in the years before this, however. Eventually, Spotify pointed to licensing issues as the reason for its delay in launching. In what could be promising news on that front, the streamer signed new deals with labels including Warner Music and Universal Music Group in early 2025, which could pave the way for the lossless tier — or so music fans hope. Advertisement Bloomberg also reported earlier this year that a premium Music Pro tier would launch later in 2025, which would include high-quality streaming, remixing, and other features. Spotify declined to comment on the Bloomberg report.
