Spotify Stay On Top, Rulin’ Da Global Music Streaming Game 🎶🌍

⬇️ Pidgin | ⬇️ ⬇️ English

Spotify Stay Eat Up Da Whole Music Bizness! By John Herrman 🎵 Dis week, da indie music platform Bandcamp wen lay off about half its staff afta its second change of ownership in two years. 📅 Da new owner, music-licensing service Songtradr, say dey goin’ keep all da existing Bandcamp services dat fans and artists love. But da artists demselves feel like someting different happening. Shoots dis stay frustrating, write John Darnielle from Mountain Goats.

Bandcamp was one good ting inna music bizness. Kimya Dawson from Moldy Peaches say Bandcamp was ‘da only place I felt safe and supported as an artist.’ For certain type of artist, Bandcamp stay like refuge from streaming’s brutal economics and promotional machinery. 💰 Meanwhile Spotify get some news for musicians worried bout making money: dey launch a new Merch Hub where users can buy products based on what dey stream. Artists also get new profile pages fo sell live tickets and promote merchandise. Musicians can even direct kind-hearted listeners to CashApp or crowdfunding sites like GoFundMe!

Spotify claim dis all part of dere mission fo help artists make money off der art. ⏭️ Streaming wen win big time! In 2022 according to Recording Industry Association of America (RIAA), streaming services made up 84% of recorded music revenues while physical media accounted for 11% and digital downloads jus’ had 3%. Fo most people it simple math: streaming cheaper dan buying songs outright plus it easier den piracy too! Plus if you wanna share a song or playlist wit friends or audience den you probably going use Spotify since dem be the biggest streaming service around.

🔝 But hold up now…Spotify success not as clear-cut as we tinkin’. Dem may be da Netflix equivalent fo music but they neva make any profit yet. In 2022, even wit almost half a billion users worldwide and 200 million paying subscribers, Spotify still lose €430 million (Spotify based in Sweden). Dis kinda strange outcome—where da biggest success story of da music industry dis century also look like it struggling—happen sometimes in tech world. Big companies can afford to lose money fo long time so dey can dominate market later on.

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Spotify Dominates Global Music Streaming Industry Growth

Spotify Stay Eat Up Da Whole Music Bizness! By John Herrman 🎵 This week, the indie music platform Bandcamp went through a second change of ownership in two years and had to lay off about half its staff. 📅 The new owner, music-licensing service Songtradr, claims that they will keep all the existing Bandcamp services that fans and artists love. However, the artists themselves feel like something different is happening. According to John Darnielle from Mountain Goats, this is frustrating.

Bandcamp was one good thing in the music business. Kimya Dawson from Moldy Peaches says Bandcamp was the only place I felt safe and supported as an artist. For a certain type of artist, Bandcamp was like a refuge from streaming’s brutal economics and promotional machinery. 💰 Meanwhile Spotify has some news for musicians worried about making money: they have launched a new Merch Hub where users can buy products based on what they stream. Artists also get new profile pages to sell live tickets and promote merchandise.

Musicians can even direct kind-hearted listeners to CashApp or crowdfunding sites like GoFundMe! Spotify claims that all of this is part of their mission to help artists make money off their art. ⏭️ Streaming has won big time! In 2022 according to Recording Industry Association of America (RIAA), streaming services made up 84% of recorded music revenues while physical media accounted for 11% and digital downloads only had 3%. For most people it’s simple math: streaming is cheaper than buying songs outright plus it’s easier than piracy too!

Plus if you want to share a song or playlist with friends or your audience then you’ll probably use Spotify since they are the biggest streaming service around. 🔝 But hold up now… Spotify’s success isn’t as clear-cut as we think. They may be the Netflix equivalent for music but they haven’t made any profit yet. In 2022, even with almost half a billion users worldwide and 200 million paying subscribers, Spotify still lost €430 million (Spotify is based in Sweden).

This kind of strange outcome—where the biggest success story of the music industry this century also looks like it’s struggling—happens sometimes in the tech world.