Spotify chief executive and co-founder Daniel Ek dropped a startling statistic at Los Angeles’ Innovation Forum event on Tuesday: that his freemium music service is on track to pay out $500 million to music copyright holders over the course of this year. That’s a big number — and it also happens to be equivalent to what Spotify has paid out in every other year combined, according to Ek (Spotify launched in October 2008, only in Sweden, and now reaches over 17 countriesincluding the United States, which is the world’s biggest music market).
This is one reason I think people who complain about Spotify payouts might be a little premature (although certainly, if someone only listens to your stuff once, it doesn’t pay out much).
This $500 million payout is also about one sixth of Spotify’s total valuation, most recently reported to be $3 billion. Spotify now has approximately as many songs as users — over 20 million of each — with about a quarter of those paying for a subscription.
There's a lot of talk about how Apple is building a whiz-bang, streaming Internet radio app to kill Pandora. In 2013, Internet radio seems really shortsighted for Apple. It can't possibly be the only thing they're up to in the music space.
One of our key findings is that Twitter is the strongest social media channel for generating leads, outperforming Facebook and Linkedin 9-to-1. In fact, 82% of all social media leads were sourced from Twitter.
stan stewart's insight:
Musicians: check out the "lead" (translate to "email list") returns from Twitter vs. other social platforms.
Because of "the evolving experience in the stores" (aka live music is too expensive), after 27 years of playing the piano at Nordstrom in the Tacoma Mall, Juan Perez was let go in January. Perez remembers his audition at ...
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