The purchase of Anchor and Gimlet instantly makes Spotify a significant podcast player-and offers a glimpse of one possible future for the medium. That clearly strikes Spotify as an opportunity. All of which means that Spotify will never have an advantage over record labels when it comes to streaming music.īut podcasts are a far younger industry, one not yet dominated by a few key players the way recorded music is. Even if a megastar like Taylor Swift, who split from Universal Music Group last year, dealt directly with Spotify, major labels would continue to hold onto a near-century of cataloged music that no amount of direct deals could rival. Both could shake the position of record labels, but neither is a real threat to the traditional music industry’s actual power over Spotify, Apple Music, Amazon Music, and others: labels’ vast catalogs. Spotify made a couple of moves last year that underscored its challenges and hinted at a path forward: It introduced a beta program to allow artists to directly upload music onto the service and, much to the chagrin of major labels, began offering artists direct deals to stream on the platform. ![]() ![]() Right now, Spotify’s user base is three times bigger than that of its chief rival, Apple Music, but it has struggled with achieving profitability for all of the company’s existence.
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