MUMBAI: Jeff Levick’s five-year-long tenure at Spotify comes to an end.
The streaming service’s Chief Revenue Officer has decided to leave the company where he was responsible for handling the service’s global commercial business. Levick performed a vital role in expanding the company’s outreach from 12 countries to almost 50.
In the blog posted by Levick, the departing executive mentioned, like Jerry Seinfeld, he wanted “the end to be graceful.” Little is known about Levick’s future endeavours, however, the former Google and AOL employee mentioned through the post that he’s ready for something different.
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Spotify’s remarkable growth in income by 80 per cent in 2015, turning the company’s revenue to $2.1 billion, remained possible through 98 per cent year-by-year growth thanks to advertisement sales under Levick. In 2014, 9.2 per cent of income came through ad sales, increasing to 10.1 per cent in 2015.
Levick’s departure comes shortly after one of the company’s top global sales execs, Jonathan Forster, called it quits.
It has been a week of mixed emotions with the departure of two key performers, but Spotify will find comfort in the latest figures suggesting the company surpassed 40 million subscribers. Spotify is gearing up for the planned IPO in 2017.
According to sources, the ad sales team that reported to Levick will now directly report to CFO Barry McCarthy.
Jeff Levick joined Spotify in September 2011.
