But there were 2 major problems over here:īut everybody had computers and the internet. The record labels again started to make billions of dollars customers fell in love with the iPod as it brought along the second wave of the music streaming revolution. And, this solution was none other than the iconic iPod and the rest is history. And, the solution that he bought to the table was to give people ultra-cheap music and to give record labels a non-pirate distribution channel for their music. And this man was none other than the legendary Steve Jobs himself. And, this is where record labels were desperately looking out for an alternative to actually get their distribution channel back on track.Īnd while all of this drama was going on, there was one man who noticed this and decided to become an opportunist during the times of chaos. Companies were still incurring millions of dollars of losses because people just wouldn’t pay $20 for an album. The CD stores were still closing down and other piracy websites took the place of Napster. Now, while most people thought that piracy will be gone and that CDs will be back as it turns out, Napster left the market but the behavioral design of the society had been so strongly altered that people just didn’t go back to CDs at all. And, if we pay very close attention, we will be able to learn some spectacular business lessons that one can apply to their start-ups. And, what we are witnessing right now is perhaps one of the most interesting business wars in history. While on one side, the losses of the company have been stacking up rapidly, on the other side, with the giants entering the streaming market, Spotify is officially in a business war.

On top of that, its recommendation and playlist have been so amazing that we all agree that it gave us a miraculous experience every single time.īut, fortunately, or unfortunately, in 2021, Spotify is in very deep trouble. Now, on the outside, if you look at the numbers, while apple music has only 72 million users, Spotify has more than 345 million users and the rest of the competition is not even close. In fact, even during the pandemic itself, the stock price of Spotify went up by 70%. We all know that Spotify is by far the most successful audio streaming platform in the world.

Spotify vs apple music vs youtube music