A new generation of tech to find success on Wall Street. Spotify is on a great path. From a highly engaged paid subscriber base to leaping into music video, Spotify is making waves across the board.
Not only have major labels invested in the music streaming site, even Ant-streaming artist Taylor Swift has distributed her music on the platform.
“In 2016, streaming revenue increased 60%, while the overall global music industry grew 5.9% – the fastest rate of growth since 1997. According to a global music report issued by the industry group IFPI, music revenues hit $15.7bn in 2016, up from $14.8bn in 2015. Fifty percent of that came from digital sales.”
With a business model that is clearly is working, the company seems to be forging forward into streaming video and push notifications to fans to buy merchandise and concert tickets of their favorites.
Let’s hope for a good future.