BUSINESS
Spotify names former Netflix executive Barry McCarthy CFO
Spotify, which was valued at $8 billion this month in a financing round, has been amassing funds to invest in its streaming service.
Spotify Ltd., the world’s largest subscription music-streaming service, hired former Netflix Inc. executive Barry McCarthy as Chief Financial Officer.
McCarthy joined Spotify’s board in February 2014, and will oversee the company’s finances from July, a Spotify spokesman said Wednesday. McCarthy replaces Peter Sterky, who will remain with the company, the spokesman said.
Spotify, which was valued at $8 billion this month in a financing round, has been amassing funds to invest in its streaming service, a growing competitor to Apple Inc. and Google Inc. in music. McCarthy previously helped Netflix go public.
McCarthy joined Spotify’s board in February 2014, and will oversee the company’s finances from July, a Spotify spokesman said Wednesday. McCarthy replaces Peter Sterky, who will remain with the company, the spokesman said.
Spotify, which was valued at $8 billion this month in a financing round, has been amassing funds to invest in its streaming service, a growing competitor to Apple Inc. and Google Inc. in music. McCarthy previously helped Netflix go public.