
Posted on Jun 4, 2024 at 09:13 by scott truitt
How is Spotify a real business?
I was shocked to see Spotify’s Daniel Ek start a recent tweet with: “Today, with the cost of creating content being close to zero, people can share an incredible amount of content.” As I thought about it more and reflected on their numbers from 2023 (32% global market share, $15 billion in revenue, and a staggering $576 million loss), I realised that cheap content is their only path to profitability. I’m still surprised to see him say it so plainly. Here’s their problem: whether you listen to
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