Will Spotify ‘Save' the Music Industry?
A new ‘savior’ for the music industry is due to launch in the US this March.
A new ‘savior’ for the music industry is due to launch in the US this March; Spotify is a cloud streaming service, already carrying 7 million users in Europe.
However, despite an apparent silver lining to what has been a cyclone for much of the past decade, industry executives particularly at the majors such as Warner Music Group and Universal Music Group remain skeptical. Yet the upside is that Spotify relies on these big four – Universal, EMI, Warner and Sony BMG, all of whom hold 80% of the US market. With 35% of all recorded music revenue in the US going to digital sales in 2009, despite the controversy, all the big heads have invested in Spotify.