The saviour of the industry turned out to be a pirate. Daniel Ek, like lots of people, had begun to get his music for free through peer-to-peer file sharing services. CDs were expensive, and labels showed no signs of cutting prices. The middle of the market – quality sound at affordable prices – had been hollowed out.
So Ek created Spotify – a business which would revolutionise the music distribution market and eventually halt a 16 year trend of declining revenues.2
Success didn’t happen overnight but today, for a monthly fee equal to the cost of a single album, Spotify customers can have access to almost every song that has ever existed.
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