Nicky Reardon

But what I'm trying to say is that this is not something that just I deem as an issue. Department of Justice, the European Union, Epic Games. Like it is a thing that has been discussed for a long time. And with that, too, I think what's very fascinating just about the business of music streaming as a whole is if you think about like the biggest competitors in the space, they are Spotify.

But what I'm trying to say is that this is not something that just I deem as an issue. Department of Justice, the European Union, Epic Games. Like it is a thing that has been discussed for a long time. And with that, too, I think what's very fascinating just about the business of music streaming as a whole is if you think about like the biggest competitors in the space, they are Spotify.

They are Apple Music. It is Google with YouTube music and then also just like any sort of Google phone and then Amazon with Amazon music. And when you compare Spotify to the rest of these competitors, while Spotify is the biggest in music streaming, Apple is the largest, most profitable company in the history of the world, worth $3.5 trillion. Google is the fourth, worth $2.2 trillion.

They are Apple Music. It is Google with YouTube music and then also just like any sort of Google phone and then Amazon with Amazon music. And when you compare Spotify to the rest of these competitors, while Spotify is the biggest in music streaming, Apple is the largest, most profitable company in the history of the world, worth $3.5 trillion. Google is the fourth, worth $2.2 trillion.

And Amazon is worth $2.1 trillion. So Apple Music only makes up like 6% of Apple's total revenue. And what's very fascinating to me about like when I compare the Spotify experience to the Apple Music experience is that I think that there's a very large emphasis for them on like what the goal is, is to keep you a part of the Apple ecosystem.

And Amazon is worth $2.1 trillion. So Apple Music only makes up like 6% of Apple's total revenue. And what's very fascinating to me about like when I compare the Spotify experience to the Apple Music experience is that I think that there's a very large emphasis for them on like what the goal is, is to keep you a part of the Apple ecosystem.

It's why when you have – if you had songs on iTunes from your iTouch as a kid, they're still in your Apple Music. If you – when you buy an iPhone, it's already downloaded on the thing. If they can send a push notification to over 2 billion devices or whatever.

It's why when you have – if you had songs on iTunes from your iTouch as a kid, they're still in your Apple Music. If you – when you buy an iPhone, it's already downloaded on the thing. If they can send a push notification to over 2 billion devices or whatever.

Like, it is just interesting to me that if you're to look at the competitor analysis of, like, music streaming, Spotify is the only one who makes the majority of its business off of – streaming music, genuinely. And I think that there is probably a lot of emphasis as to why Spotify cares more for that reason.

Like, it is just interesting to me that if you're to look at the competitor analysis of, like, music streaming, Spotify is the only one who makes the majority of its business off of – streaming music, genuinely. And I think that there is probably a lot of emphasis as to why Spotify cares more for that reason.

The Spotify phone coming soon. Right. Yeah, you did not hear it here first. Yeah, you did not hear it here first. You didn't hear it at all.

The Spotify phone coming soon. Right. Yeah, you did not hear it here first. Yeah, you did not hear it here first. You didn't hear it at all.

um but that is interesting honestly like as a as like a consumer i do think it's also why you see like there's a lot more emphasis from spotify as a company on things like wrapped and discover weekly and dj and you know because i think they are there's this understanding that like the soul of spotify is really in those sorts of tools and features that make it the primary music discovery tool of our generation

um but that is interesting honestly like as a as like a consumer i do think it's also why you see like there's a lot more emphasis from spotify as a company on things like wrapped and discover weekly and dj and you know because i think they are there's this understanding that like the soul of spotify is really in those sorts of tools and features that make it the primary music discovery tool of our generation

Yeah. So that is like this interesting tech side of the industry. Yeah. Now I want to talk about the music side of the industry, right? As Spotify sits perfectly in between those two things. And really just like this concept of music licenses, the way it works. Like obviously, to nobody's surprise, Spotify does not own music.

Yeah. So that is like this interesting tech side of the industry. Yeah. Now I want to talk about the music side of the industry, right? As Spotify sits perfectly in between those two things. And really just like this concept of music licenses, the way it works. Like obviously, to nobody's surprise, Spotify does not own music.

They license it from your favorite artists and their label and their publisher, blah, blah, blah. So because of that, for every dollar you make, 67 cents of it goes to the license holder. That's right. So whether that is that like the label, the publisher, et cetera. Yeah. And this is a very...

They license it from your favorite artists and their label and their publisher, blah, blah, blah. So because of that, for every dollar you make, 67 cents of it goes to the license holder. That's right. So whether that is that like the label, the publisher, et cetera. Yeah. And this is a very...

interesting thing one for spotify the idea that 67 of your revenue is not even uh cannot even cover cost it's just gone right like it's not it's just gone by the nature of even trying to exist in the space and because of that there is like a lot of emphasis on the way also um records deal deals work because again going back to something we talked about spotify does not pay artists spotify pays

interesting thing one for spotify the idea that 67 of your revenue is not even uh cannot even cover cost it's just gone right like it's not it's just gone by the nature of even trying to exist in the space and because of that there is like a lot of emphasis on the way also um records deal deals work because again going back to something we talked about spotify does not pay artists spotify pays