Sam Duboff

You're not discovering new artists you're going to go see live. It's not going to have strong word of mouth because it's probably not that engaging a product. What you want is a service where... People are listening to tons of music. Yeah. Right? They're paying the same no matter what. You want them listening to thousands of songs per month because that means they're discovering new artists.

You're not discovering new artists you're going to go see live. It's not going to have strong word of mouth because it's probably not that engaging a product. What you want is a service where... People are listening to tons of music. Yeah. Right? They're paying the same no matter what. You want them listening to thousands of songs per month because that means they're discovering new artists.

They're loving the product. They're retaining and subscribing over time and not canceling. They're going from the free tier to the paid tier because they love it so much. Those are all things that make the calculated per stream rate go down, right? Because it's more streams for the same money. But that's what makes... a product grow, right?

They're loving the product. They're retaining and subscribing over time and not canceling. They're going from the free tier to the paid tier because they love it so much. Those are all things that make the calculated per stream rate go down, right? Because it's more streams for the same money. But that's what makes... a product grow, right?

That's why Spotify is growing payouts so much faster than other services, because people on Spotify listen to the most music.

That's why Spotify is growing payouts so much faster than other services, because people on Spotify listen to the most music.

So it's kind of this counterintuitive thing where you're like, oh, I've calculated this per stream rate. That should be high, right? But actually, given how StreamShare works, how streaming works, you want a service that's maximizing your paycheck, not your per stream rate. So you want a service with high engagement where subscribers love it, keep signing up, and get new people to sign up.

So it's kind of this counterintuitive thing where you're like, oh, I've calculated this per stream rate. That should be high, right? But actually, given how StreamShare works, how streaming works, you want a service that's maximizing your paycheck, not your per stream rate. So you want a service with high engagement where subscribers love it, keep signing up, and get new people to sign up.

That's just a calculation they're doing later. It has nothing to do with how much the service is paying out. They're just, you know, after the fact, looking at how much money they made, looking at their stream count, and dividing them. And just doing the math. I get what you're saying.

That's just a calculation they're doing later. It has nothing to do with how much the service is paying out. They're just, you know, after the fact, looking at how much money they made, looking at their stream count, and dividing them. And just doing the math. I get what you're saying.

And the graphs, I think, that are more valuable. If you ask an artist, do you want a bigger paycheck or more money per stream on average, people want more money. You want a bigger paycheck. So that same graph, if you do it by payout, Spotify is number one. We're paying out the most. There was a recent study done last fall by a third-party research firm, and they...

And the graphs, I think, that are more valuable. If you ask an artist, do you want a bigger paycheck or more money per stream on average, people want more money. You want a bigger paycheck. So that same graph, if you do it by payout, Spotify is number one. We're paying out the most. There was a recent study done last fall by a third-party research firm, and they...

basically asked the entire network of indie labels, indie distributors, a bunch of indie artists, how much money they're making, sources of revenue. Over 50% of streaming revenue for the average indie is coming from Spotify. And so that's because it's such an engaging service. It's because listeners listen to so much music.

basically asked the entire network of indie labels, indie distributors, a bunch of indie artists, how much money they're making, sources of revenue. Over 50% of streaming revenue for the average indie is coming from Spotify. And so that's because it's such an engaging service. It's because listeners listen to so much music.

The same things that are making that calculation, the per stream rate, low. Those are the reasons that we're paying out the most. That's why the paycheck is high. So I'd love to see, you know, on every graph of per stream rate, I'd love to see that next.

The same things that are making that calculation, the per stream rate, low. Those are the reasons that we're paying out the most. That's why the paycheck is high. So I'd love to see, you know, on every graph of per stream rate, I'd love to see that next.

Yeah, but another way to think about it is same music catalog on all services, you have the same chance to get one in a million streams. That's how all streaming services pay out based on that idea of one in a million, one in blank. For the same level of popularity on Spotify, you make more than any other service. Interesting.

Yeah, but another way to think about it is same music catalog on all services, you have the same chance to get one in a million streams. That's how all streaming services pay out based on that idea of one in a million, one in blank. For the same level of popularity on Spotify, you make more than any other service. Interesting.

Yeah, I mean, certainly... the low price point has allowed us as an industry across all streaming services is over 500 million paying subscribers now. This is a brand new model and piracy was really easy, right? Like destroyed the recorded music industry almost overnight.

Yeah, I mean, certainly... the low price point has allowed us as an industry across all streaming services is over 500 million paying subscribers now. This is a brand new model and piracy was really easy, right? Like destroyed the recorded music industry almost overnight.