Spotify’s increasingly dominant position also makes it a potential monopoly, which could lead to exploitation of customers and artists, while also stifling innovation.
Many artists already feel, whether justly or not, that they’re getting a raw deal from Spotify.
Is the music industry a monopoly?
The music industry is not a Monopoly — but it is an Oligopoly. The five major labels control the vast majority of musical acts and capture over 90% of the consumers money spent on recorded music.
Is Spotify owned by Apple?
Spotify has its own back, obvs. One of Spotify’s main competitors is Apple Music, which doesn’t have to pay such a toll to the company that owns it. But Spotify is reliant on Apple’s App Store, since millions of its users access the Spotify app on iPhones.
Is Spotify a good company?
Following its successful public listing yesterday, the music streaming service Spotify is now worth around $25 billion, making it the largest music company in the world — but when Spotify first débuted, back in 2008, it was reasonable to think it would fail.
Is Spotify a global company?
Today, Spotify is the most popular global audio streaming subscription service with 271m users, including 124m subscribers, across 79 markets. We are the largest driver of revenue to the music business today.
Is Apple considered a monopoly?
Google made the decision to give Android away as part of their business strategy. So pretty clearly, Apple has no monopoly powers in the mobile business at under 12% of the market.
What are the 4 major record labels?
Nielsen SoundScan in their 2011 report noted that the “big four” controlled about 88% of the market:
- Universal Music Group (USA based) — 29.85%
- Sony Music Entertainment (USA based) — 29.29%
- Warner Music Group (USA based) — 19.13%
- Independent labels — 12.11%
- EMI Group — 9.62%