Matthew Prince

Whereas like the Spotify streaming has become a much bigger part of your business.

I think this will just change exactly what those allocations are.

But I am optimistic.

Like if you think about the music industry, almost 23 years ago to the day was dying.

Whole music industry was worth, valued about $8 billion, which is a lot of money, but not a lot of money for like the entire music industry, right?

And so it's pretty crazy.

And what was happening was people were just stealing the content with Napster and Grokster and all these various things that were out there.

And then, you know, Steve Jobs steps on stage

almost 23 years ago to the day, and announces iTunes 99 cents a song.

Not the business model that won, but it was a critical step to get to the business model that won.

And so, and again, the business model that eventually won was Spotify, you know, $10 a month, all you can eat.

But you had to kind of go through that.

So I don't know what we're going to end up at, but I know we've got to do something that puts a line in the sand that says content is valuable and the people who create it should get compensated for it.

And then we've got to create the technical solutions that make it possible to do that in a way which is fair so that everyone has to pay something which is fair and either depending on their size or however that works.

And then once that happens, I think that the business models will evolve over time.

But what we're trying to do is say, how do you create the right conditions for a market to develop and then provide the technical infrastructure or partner to provide the technical infrastructure to actually then allow that market to thrive?

Yeah, I mean, what's been interesting about the Park Record has been so that the

If you think about what businesses, content creation businesses, you know, thrived over the last 30 years versus which ones withered and died.

Local news is one of the ones that withered and died.

It was incredibly hard because you needed scale in order to drive the economics in advertising.