Troy Carter Leaving Spotify
• Rumors have turned to reality as Troy Carter, Spotify’s Global Head of Creator Services announced he’s leaving the streaming company. Variety says Carter will stay on through early September after which he’ll assume an advisory role at the company. On the heels of Carter’s announcement, Spotify’s stock dropped more than 5%, down $9.48 per share to close at $176.79.
In a statement, Spotify CEO Daniel Ek said, “By all measures, Troy has made a tremendous impact at Spotify. When he joined our team, there was skepticism from the artist community on streaming overall. Troy has been instrumental in changing that perception and his efforts to establish true partnerships across the industry will be felt for years to come. He’s built a very capable, global team that embodies an artist-first approach and this philosophy has been adopted across Spotify. We are in an excellent position to build on the momentum we’ve established well into the future.”
Carter commented, “I came to this company to help bridge the gap between Spotify and the creative community. Over time, that goal evolved from fixing a challenge to building a global team focused on changing the game for artists around the world, partnering with them to help bring their creative visions to life in new and innovative ways. I’m very proud of what we’ve achieved but with so much accomplished, it was the right time to move out of the day-to-day into an advisory role. The knowledge, relationships and personal experiences will remain with me and I know that this talented team is committed to continuing this important work.”
Bonus Fun Fact: Carter is also the entertainment advisor to the $300 million Prince estate, which recently struck a licensing deal with Sony Music. [Photo from LinkedIn]
