Feb 17, 2016
Spotify is the perfect example of how streaming services have become one of the most frequent and convenient forms of listening to music. Since its launch only seven years ago, the application has amassed over 75 million active users and 20 million subscribers. But according to CEO Daniel Ek, Spotify isn’t only providing instantaneous access to music, but mainly fueling the regrowth of the music industry around the world.
In a Q&A session on Quora, Ek proclaimed, “Many people don’t realize that the music industry was in decline throughout all the download years… Now, finally, after years and years of decline, music is growing again, streaming is behind the growth in music, and Spotify is behind the growth in streaming.”
But not everyone seems to agree. Last year, Taylor Swift made headlines from her highly public stunt of removing all albums from Spotify because of its small wages. The most recent protestor was National Academy of Recording Arts and Sciences president Neil Portnow, who attacked streaming sites at the 2016 Grammys, for paying musicians unfairly. Both were referring to reports of artists receiving half-a-penny’s worth per Spotify play.
In response to the allegations, Ek stated: “Look, we pay the great majority of our revenue back to the music industry. And as we grow, that revenue is really making a difference.”
The CEO then concluded with cease fire, peace-statement: “We love music, we love all the amazing people who make it, and we want to succeed together.”