Lou Whiteman

These original prices, the ones we're comparing it to, they were set artificially low at the beginning as loss leaders.

That was funded by VC funds, which in turn were funded by basically zero rates.

So there was free money.

These businesses use that free money to try to gain share.

And so now the price hikes look dramatic off of that.

But I don't think that we can say necessarily that what has happened over the last few years is going to be repeatable indefinitely into the future.

Spotify doesn't have unlimited pricing power.

$22 a month for a family plan is not unreasonable.

There's room to grow from there.

Travis, you say there's no choice.

There is choice.

There's Google.

There's Apple.

There's a lot of other choices.

As long as they're kind of all stepping up together, I think it's fine.

But if Spotify said, you know, to heck with it, $50 a month, I don't think that would work out well for them.

Yeah, and if so, I think it does make sense, because again, we started artificially low.

I do think that there will be pullback at some point.

I think it's interesting, because you can say that Netflix has specific things, and if you want to watch, I don't know, Squid Games or something, you need Netflix.

Spotify, I know they're trying with podcasts and stuff, but basically everything that people actually want to hear on Spotify, they can get elsewhere.