Nicky Reardon

Interesting. And I'm glad this is exactly what I was about to say too. It's like, I think it's like the emphasis of like, you've got to really vet your team. And like plays a lot of emphasis and weight into that decision lens. You hire like the very, I mean, you know, like you always hear about like the Britney type stories of that's like the worst, worst case scenario.

Interesting. And I'm glad this is exactly what I was about to say too. It's like, I think it's like the emphasis of like, you've got to really vet your team. And like plays a lot of emphasis and weight into that decision lens. You hire like the very, I mean, you know, like you always hear about like the Britney type stories of that's like the worst, worst case scenario.

But again, like this idea of like the team and your relationship with them, how much value they are providing to you in exchange for what you are offering to them, the percentage you are offering to them. is like a very cost-benefit analysis you should think about very deeply, is what I'm trying to say.

But again, like this idea of like the team and your relationship with them, how much value they are providing to you in exchange for what you are offering to them, the percentage you are offering to them. is like a very cost-benefit analysis you should think about very deeply, is what I'm trying to say.

Totally, totally. And understandably. Yeah. And understandably. And again, dude, like I am excited to talk about this, but it's also like, I'm not an expert. I'm not a lawyer. I've never worked at a music label. Like what I am saying is vetted and correct. But like, I, you know what I mean? Like, I'm like, there's layers that even I cannot empathize with or understand.

Totally, totally. And understandably. Yeah. And understandably. And again, dude, like I am excited to talk about this, but it's also like, I'm not an expert. I'm not a lawyer. I've never worked at a music label. Like what I am saying is vetted and correct. But like, I, you know what I mean? Like, I'm like, there's layers that even I cannot empathize with or understand.

This is also why this, you know, 67 cents on the dollar has made it. So for Spotify's first nine years of life, it was not profitable. It was a huge business, tons of revenue, but it was not profitable. Like it was, it was breaking even essentially more or less. And it was, um, this is a very common thing that happens in tech companies with like Twitter and Uber and blah, blah, blah.

This is also why this, you know, 67 cents on the dollar has made it. So for Spotify's first nine years of life, it was not profitable. It was a huge business, tons of revenue, but it was not profitable. Like it was, it was breaking even essentially more or less. And it was, um, this is a very common thing that happens in tech companies with like Twitter and Uber and blah, blah, blah.

Um, until this past year, Spotify hit profitability, which is exciting. But so when people are talking about like, as like, this is a big problem, um, It is.

Um, until this past year, Spotify hit profitability, which is exciting. But so when people are talking about like, as like, this is a big problem, um, It is.

Like, it is, Spotify's in a tough place where, like, 67 cents on the dollar is a lot and they don't have, you know, Amazon or Apple or, like, whatever, like, these other aspects of the business, like, to fund and invest in just we want to be in music.

Like, it is, Spotify's in a tough place where, like, 67 cents on the dollar is a lot and they don't have, you know, Amazon or Apple or, like, whatever, like, these other aspects of the business, like, to fund and invest in just we want to be in music.

Yeah.

Yeah.

Yeah. And also like to go off that, like this, you know, remaining 33 cents on the dollar is also like being used to hire the editors that are curating the playlist to get new music discovered. They are amazing.

Yeah. And also like to go off that, like this, you know, remaining 33 cents on the dollar is also like being used to hire the editors that are curating the playlist to get new music discovered. They are amazing.

pioneer they're inventing technology like DJ and discover weekly to create algorithmic suggestions they are doing things like the Spotify single series or the Spotify green room series that's like highlighting new artists like a lot of the investment initiatives in music from Spotify are geared towards new talent which I think is cool yeah and again like talking about like where this cut is going

pioneer they're inventing technology like DJ and discover weekly to create algorithmic suggestions they are doing things like the Spotify single series or the Spotify green room series that's like highlighting new artists like a lot of the investment initiatives in music from Spotify are geared towards new talent which I think is cool yeah and again like talking about like where this cut is going

And I think that perfectly segues into the next question is like, where does that leave us now? In a perfect world, how does an artist make more revenue on Spotify than they're making today? Thinking of potential solutions that are hard, right? It's like, they could add more ads. That would increase the revenue pool. And they would pay that out to artists.

And I think that perfectly segues into the next question is like, where does that leave us now? In a perfect world, how does an artist make more revenue on Spotify than they're making today? Thinking of potential solutions that are hard, right? It's like, they could add more ads. That would increase the revenue pool. And they would pay that out to artists.