Daniel Ek

And then if you think about something like BTS, but actually quite a lot of the Korean artists, it is like an industry.

It's huge.

Just on the songwriting side, it's the difference between if in Taylor Swift's camp, it's like two, three, four, maybe at the top.

In some Koreans, it's 200 writers involved.

And that's like a small part.

And then you have like everything from merchandising, there's another few hundred.

Yeah, well, that could be your next deep dive because honestly, it is fascinating how they do it and the 360, how they think about it, not just from sort of maximizing their recorded side, but actually thinking about sort of fan development, all the digital platforms, they have their own developers, programmers, building specific platforms.

And I think this is a broader trend, right?

We're now living in a very global world when it comes to culture.

At the same time, there's still a lot of local nuances, right?

So it's this extremity that we talked about.

On the one end, you have this super, super niches that exists.

But then once every blue moon, one of these niches kind of develop into something that's actually quite sizable, and you kind of start realizing that maybe this has a global appeal on top of it.

So in LATAM, as an example, gospel music is quite big.

And funk music is also quite big.

Okay, well, that's probably not what you associate with popular music.

But there are real things, and obviously they exist in microcosms elsewhere, like you could probably guess in the South, in the US, gospel might be a larger genre, etc.,

So it's not like it's totally kind of isolated and just happening there.

But there's something that creates a sort of cultural resonance with those types of styles.

And then you have something like reggaeton.