This podcast provides insightful commentary about how Spotify saved the music industry. The podcast explains how streaming services such as Spotify have helped the music industry recover from the precarious position it was at the beginning of the digital age. Although streaming is changing the industry, its principle of payment-based legality for piracy has remained the same. The customer’s perspective is that Spotify and the other streaming services are wonderful. This has revolutionized the way that consumers hear, listen to and purchase music. The music consumers stream and listen to is theirs. Consumers have never listened to so much music that they are able to stream, and yet do not possess any. Ailey Butler states, “Streaming allowed consumers to hear more music than ever before,” and made it possible for small and DIY musicians to get their music heard. It also helped eradicate music piracy to an extent.” (Butler 2019, 2019). These are just a few of the ways Spotify has made it possible to protect music businesses from piracy, while still providing an excellent listening experience. Streaming is becoming more popular because it’s so easy to access. This means that undiscovered music and artists are being discovered. Kendall Deflin, music writer, says that streaming is so convenient. This compares to the seven million tracks purchased. Buzz Angle Music’s annual survey found that music streaming grew by 61% in the period 2014-2019. However, there are concerns about how revenue is distributed to artists trying to survive in the face of this level of consumption.
Spotify, which was created in 2008, had a utopian vision. It wanted to end music piracy and reward musicians for their hard work. Spotify might have achieved this goal partly by violating your privacy. Spotify states in its mission statement that it envisions a platform for cultural creators who can transcend their media limitations. It also envisions a place where all can share an immersive experience that allows them to feel connected and a part a larger whole. Artists were willing to accept only a thousandth percent of a penny per stream in compensation. As the music industry expands for the sixth year straight in 2019, some are questioning whether streaming companies should offer artists higher compensation. The current environment for COVID-19 has artists concerned about the insufficient payouts from streaming services such as Spotify. Spotify may have a flawed strategy for earning revenue and additional revenue-producing options are needed. Recently, artists have expressed concern over Spotify’s continued expansion.