Spotify and the Untold
Music lovers around the world, including Vietnam, have now become extremely familiar with the Spotify application that allows all registered members to legally listen to free music with sound quality. and extremely smooth experience. Those who pay monthly or annually also have the right to download 33,333 music and podcast works to their devices to listen to anywhere, anytime, even without an internet connection.
Spotify today has more than 40 million songs, over a million podcasts, and covers more than 90 countries and has a user base of 350 million by 2021. More than half of Spotify users now pay to listen to music. no ads, making the platform an important source of revenue for the music industry with billions of dollars a year; save record companies from piracy and get back to growth.
Somewhere on the internet, those interested in Spotify can find some fascinating information about this business’s spectacular growth journey. However, writing on this topic in the most complete and attractive way to date must be mentioned in the book “Spotify and the Untold Stories” by the Swedish journalist duo Sven Carlsson and Jonas Leijonhufvud.
Considered “as gripping as a movie script”, the book details the journey of Daniel Ek and Martin Lorenzon – the founders of Spotify – using technology and perseverance. to change the world of the music business and the way music and podcasts are enjoyed by listeners around the world.
Daniel Ek and Martin Lorenzon started Spotify in 2006, when each was themselves a technology millionaire in Stockholm. Although they are not financially challenged, the challenge they face is as difficult as many other startups.
At that time, Apple was still proud to hold the world’s largest digital music distribution platform with iTunes online store and iPod music player. The iTunes-per-download model costs 99 cents, works on all Apple devices, computers, and has solid backing from the five biggest record companies in the world like Universal Music, Warner, Sony… As revealed by the two authors, despite the decline in health, for many years, Steve Jobs has always tried to promote the development of iTunes, and at the same time did not hesitate to speak ill of Spotify, prevent the cooperation of record companies with them.
Spotify’s competitors also include Google and Amazon. Because every “big man” wants to target and profit from a potential market, it can create a distinct competitive advantage for this business.
Officially launched in Sweden in 2008, Spotify has since expanded to Europe, attracting 7 million users by the end of 2010. However, Spotify’s US launch has been consistently delayed. delay, while this is an extremely important market, needs to be conquered in the company’s growth plan. Investors as well as the entire company are extremely worried, because this slowness makes Spotify likely to face negative growth in the number of subscribers and all may collapse.
The key for Spotify to overcome this challenge is Daniel Ek’s perseverance, perseverance and wise negotiation strategies in approaching and persuading record labels. In the end five record labels, starting with Universal Music, offered Spotify licensing deals with many of them in their favor, so that in any case they were the “masters”. It took 3 years, Spotify could finally be available in the US in 2011.
Besides, it must also be mentioned Sean Parker, Mark Zuckerberg… and many other influencers – who are friends of Daniel Ek and Martin Lorenzon – who have supported and pushed Spotify on its growth journey despite the rivalry. from many sides, including from some famous artists like Taylor Swift…
In terms of users, Spotify is constantly using big data (Big Data), artificial intelligence (AI), machine learning to improve service quality and attract more and more people. use the application, as well as make them willing to pay for the fee, to get better service.
Spotify also had time to invest in a video service, but it was not successful. Meanwhile, the company’s foray into podcasts was recorded in 2015.
In April 2018, Spotify made an initial public offering (IPO) in the US. The successful deal puts the company in the ranks of businesses worth tens of billions of dollars. Daniel Ek – who owns 9.2% of the shares – became a billionaire at the age of 35. The company’s co-founder with Mr. Martin Lorenzon as well as all the employees who helped develop the company at the beginning, have more large amount in the account.
“Spotify and the Untold” is therefore an inspirational story about people with big dreams with unwavering beliefs, great wills that have challenged even the biggest tech companies in the world. demand and changed the music industry forever.
Daniel Ek’s transformation from a clumsy, clumsy tech guy to a mature, charismatic CEO of one of the world’s largest music companies with strategic campaigns A wise business development strategy, it is also a story that brings many valuable lessons for business enthusiasts and startups. In addition, his humility, constantly learning from those around him, makes many believe that Daniel Ek is qualified to lead Spotify to continue to move forward in an ever-competitive technology market. fiercer than it is today.
Full of topical information, right from the release of the book “Spotify and Untold Stories” has immediately received the attention of a large number of readers. This is also the reason why Netflix has decided to buy and prepare to adapt the book into a movie.
To write the book “Spotify and Untold Stories,” the two authors met and interviewed Daniel Ek and Spotify co-founder Martin Lorenzon several times over the years. They also consulted a lot of public and confidential documents, interviewed more than 80 people who were former senior managers, employees or investors, partners; even Spotify’s competitor.
By Business and Marketing
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
