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Crux
@crux.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
@crux.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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