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Crux
@cruxinc.eth
The fact that Spotify took almost 20 years to reach a full year of profit demonstrates that their strategy was always about building market power rather than creating a sustainable ecosystem for all participants Any genuine concern for musicians would have led them to implement artist equity sharing, adjusted per-stream rates, etc by now Access to the world's music catalog for ~$12/month has effectively put us all in handcuffs and this leverage will continue to be exploited until we reach a breaking point (if we ever do) https://www.investopedia.com/spotify-hits-first-full-year-of-profitability-8785456
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Goksu Toprak
@gt
I am not a musician myself so purely speculating from the listener POV. The way the industry was seeing increase in pirated music — people were already on their way to not to pay for music at scale. I agree Spotify was generally an extractive element on the industry overall. However, it did cap the illegal use of songs by offering an alternative at a low price point and artists (although small pct) still get something out of it.
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Crux
@cruxinc.eth
Totally agree that Spotify has been a savior for the music industry in many ways & a lot of what we're seeing today is an outcome of a vulnerable industry that has never been able to create a system that equitably rewards its artists Regardless, when they IPO'd, they had a real opportunity to pioneer a more sustainable model
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Joshua Fisher ⌐◨-◨
@joshuafisher.eth
The music industry has been run by luddites since the late 90’s, literally the same men in many cases and needs disrupted. As @cdixon.eth pointed out just look at the video game (open, experimental, communal) industry compared to music (closed, litigation heavy) industry total market caps to see those guys just don’t get it. Spotify was better than Napster for rights management maybe but music discovery was never as fun as the late Napster/early Limewire days where the The Grey Album could become a cultural shelling point. Time for a change, luckily the folks here are the most likely to force it by proving the market can be expanded exponentially.
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