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.
Nah, Spotify has posted a loss for two years in a row now
And they're still worth 8 ****ing billions
Quote:
Music streaming giant Spotify continues to change the game, and after their recent valuation, they're now reportedly worth more than the U.S. music industry. According to The Wall Street Journal, after their recent deal for $400 million in additional funding, Spotify is now worth a total of $8.4 billion, which is double the value of their closest competitor Pandora.
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.
Nice try Tidal-lover.
Spotify is getting a shitload of money only from ads. It's estimated worth is $8.4 billion