Publicly-traded Pandora and Spotify both operate at a loss and share a significant portion of revenue with their music label partners. Spotify has around 15 million paid subscribers compared to March 2013’s figures of 6 million paid subscribers. Spotify CEO Daniel Ek responded back to Taylor Swift’s comments, saying that Spotify paid a total of US$ 2 billion in royalties to the music industry at the time. I hope they don’t underestimate themselves or undervalue their art.” It’s my opinion that music should not be free, and my prediction is that individual artists and their labels will someday decide what an album’s price point is. She penned an op-ed in the Wall Street Journal back in 2014 saying, “Important, rare things are valuable. In 2014, Taylor Swift pulled her work from Spotify, claiming at the time that music streaming services didn’t value her art.
Jay Z has attracted music artists such as Rihanna, Kanye West, Beyoncé (Jay Z’s wife), Coldplay, and Taylor Swift. rapper Jay Z (real name Shawn Corey Carter). Another up and coming competitor is the Tidal streaming service which is being backed by U.S. In Europe, Spotify competes with Deezer – mostly in France. Spotify, first launched in 2008, competes heavily against Pandora Media Inc. Spotify raised US$ 250 million in its last round back in November 2013. This would value the song-streaming company at US$ 8.4 billion. Spotify AB, a streaming-music platform, is raising its seventh round of capital approaching US$ 400 million for a private placement. Spotify Nears $8.4 Bil Valuation, Attracting Sovereign Wealth
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