Jay Z announced this artist led coalition would cost $20 per month for the Lossless High Fidelity version and $10 per month for the standard quality version. Jay Z’s idea is that an artists co-owned streaming service will give them a bigger slice of the pie. Cole, Taylor Swift and other music icons in one room to shoot a promo for Tidal. Jay Z managed to get Madonna, Beyonce, Daft Punk, J. The Blueprint MC recently sent out a bat signal to all his musician pals to discuss the idea behind his new streaming service. Not to mention other competitors like Jay Z’s much anticipated, Tidal music streaming service. Google has also joined the party by releasing a streaming service via Youtube. Apple’s $3 billion acquisition of Beats Music has allowed them to get their hands on Beat’s promising music streaming platform, as well as gaining invaluable music contacts through super producer Dr Dre and Interscope Records co-founder Jimmy Iovine. There is no shortage of competitors ready to take Spotify’s mantle. With this in mind it becomes easier to understand how spotify has yet to turn a profit, with a staggering 70% of revenue passed onto record labels and music publishers. In 2013 roughly 90% of Spotify’s revenue came from paid subscribers – or a cool $US 897 million – leaving a measly $90 million in revenue coming from their freemium/advertising model. If you look at Spotify’s financial situation through a negative lens you can begin to see why Swift has cut ties with the streaming service. Ad-funded on-demand is not going to sustain the entire ecosystem of the creators as well as the investors.” “We want to accelerate paid subscription. Universal is singing the same tune with their chief executive Lucian Grainge recently explaining the need for change to Rolling Stone Magazine. Taylor feels that this cheapens her product, and kills album sales. Taylor Swift and Universal are speaking out against Spotify’s popular “freemium” service, which allows users to listen for free, as long as they’re happy to put up with a few ads. Since Tswift’s public condemnation, others have started to sharpen their pitchforks and join the rebellion including industry heavyweights, Universal Music Group. The kingdoms subjects started getting restless when pop princess Taylor Swift spoke out against Spotify last year and decided to remove her whole catalogue from the popular streaming site. So with Spotify’s revenues climbing well over $1 billion in late 2013, the undisputed king of music streaming should be sitting comfortable atop their throne, right? Well, not exactly… Watch the Throne Kendricks “To Pimp A Butterfly” broke Spotify’s most plays in a day record with an incredible 9.6 million, while Drake’s recent mixtape “If You’re Reading This It’s Too Late” managed to gain 17.3 million streams in 3 days. Marquee rappers like Kendrick Lamar and Drake have brought unparalleled success to Spotify in recent months by dropping record- breaking albums. And while Pandora Music Radio still has a considerable presence in the US, their popularity is falling faster than their stock prices. Right now Spotify is the undisputed king of the music streaming industry.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |