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Spotify Moving Headquarters to 4 World Trade Center, Governor Says

Spotify Moving Headquarters to 4 World Trade Center, Governor Says”

After months of rumors and leaks, music-streaming giant Spotify has committed to take 378k SF in 4 World Trade Center, making the skyscraper fully leased.

The company will occupy 378,000 square feet in the new Fumihiko Maki-designed building owned by Silverstein Properties.

That said, while Cuomo tweeted that "Spotify is going to be adding over 1000 employees here in the great State of New York", the accompanying jpeg said: "Spotify will create over 1000 jobs at Four World Trade Centre".

CEO Daniel Ek started looking for NY office space in September after the company's staff outgrew its current office space.

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The music-streaming behemoth is headed to 4 WTC, and expanding its headquarters.

Music streaming service Spotify is planning to relocate its U.S. headquarters in New York City and more than double its workforce in the country by next year, Reuters reported, citing New York governor Andrew Cuomo. As part of the deal, the company will get $11 million in rent credits over 15 years; similar deals have been brokered with other WTC tenants, including Condé Nast, as part of the Empire State Development Corporation's World Trade Center Rent Reduction Program.

The company's offices are now located in midtown Manhattan. In the United States, subscriptions to Spotify and its rivals more than doubled a year ago alone.

In filling out its new space, Spotify plans to increase its workforce in NY comprised of software engineering and product teams, label and artist relations, editorial, shows, original content, marketing, legal, sales, finance among other sectors. Spotify now boasts the industry's biggest paid subscriber base at 40 million paid users. But it doesn't look like Spotify is moving as Cuomo said Spotify will be create 1,000 jobs at the new floorspace. The company reported an operating loss of 184.5 million euros ($195.5 million) in 2015, up from 165.1 million in 2014.



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