Spotify has signed a lease for a huge New York office at Four World Trade Center - where it will create over 1,000 jobs.
The streaming company has committed to taking 378,000 square feet on floors 62-72 of the skyscraper - more than double the size of its current NY base.
The news was revealed earlier today by the Governor of New York State, Andrew Cuomo, who took to Facebook Live to proudly announce details.
By Tim Ingham
It is currently unclear what the future holds for Spotify’s existing Manhattan’s Flatiron District HQ, where approximately 600 employees work across two floors covering 140,000 square feet.
“I hope Spotify’s expansion sends a clear signal to the tech community that New York is open for business,” said Spotify General Counsel Horacio Gutierrez.
The idea of Spotify creating another 1,000 jobs may raise some curiosity amongst music industry rights-holders still yet to agree long-term licensing deals with the company.
Spotify is understood to be asking labels to agree to drop their revenue share from 55% to 52%, in order to help the company display better profitability prospects to Wall Street - and ultimately to IPO.