![]() ![]() ![]() Many with disk drives built in, allowing users to take their favorite CDs and rip them on to their devices as MP3 files. At the same time, home computers were becoming more commonplace. The Internet has changed so many aspects of media consumption, but few have had a more tumultuous relationship with these changes than the music industry.ĬDs became the standard medium in the 1990s. This is a story of how a small Swedish startup came to define the way we listen to music in digital age and what we can expect in the future. Something like the Covid will likely accelerate that trend.” Daniel Ek, CEO, Spotifyīut Spotify had an uphill battle from music rights to artists demanding fair pay. We’re talking about something that has billions of consumers around the world that are now moving their behaviors online. The devastating global pandemic has also contributed to Spotify’s recent financial gains. ”The companies that we bought and the talent that we have brought onto the platform will helps us become the number one audio platform in the world.” Dawn Ostroff, Chief Content Officer, Spotify. Spotify has been on a winning streak recently with the acquisition of Joe Rogan’s incredibly popular podcast, along with exclusive deals with Kim Kardashian and DC Comics, all in an attempt to broaden its scope from music streaming to audio giant. Taking on behemoths like Apple, Amazon and Google, Spotify has dominated the streaming music industry with about 130 million premium subscribers worldwide, despite being number two behind Apple in the U.S., according to data from 2019. ![]() What started out as music piracy became an 11 billion dollar industry, making up 56% of global music industry revenues in 2019.Īnd one company has become the clear winner globally in terms of paid subscribers. Music is so important to us humans and has been for thousand of years, the last 20 of which have seen an incredible shift to online music. ![]()
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