Out of their 60 million subscribers, only 10 mullion are willing to pay for their service after 5 years. They make no profit. So business wise they are not crashing any competition.
Cute! Is there supposed to be a mobile app update with this soon too? They just released an update for their iOS app today but it was just an incremental one.
Music streaming service Spotify likes to crow about how it hands 70% of the revenue it generates right back to artists in the form of royalty payments. Such a massive expense has led the company to be wildly unprofitable in recent years..
Cute! Is there supposed to be a mobile app update with this soon too? They just released an update for their iOS app today but it was just an incremental one.