Placeholder Image

字幕列表 影片播放

  • Playing music is part of civilized humanity.

  • Music is so important to us humans and has been for

  • thousands of years, the last 20 of which have seen an

  • incredible shift; online streaming music.

  • What started out as music piracy became an 11 billion

  • dollar industry, making up 56 percent of global music

  • industry revenues in 2019.

  • And one company has become the clear winner globally in

  • terms of paid subscribers.

  • Spotify is where everyone is at.

  • Taking on bohemoths like Apple, Amazon and Google, Spotify

  • has dominated the streaming music industry with about 130

  • million premium subscribers worldwide, despite being number

  • two behind Apple in the U.S., according to data from 2019.

  • Spotify has been on a winning streak recently with the

  • acquisition of Joe Rogan's incredibly popular podcast,

  • along with exclusive deals with Kim Kardashian and DC

  • Comics, all in an attempt to broaden its scope from music

  • streaming to audio giant.

  • The companies that we bought and the talent that we have

  • brought onto the platform will help us become the number

  • one audio platform in the world.

  • And the devastating global pandemic has also contributed to

  • Spotify's recent financial gains.

  • Boom. Look at this stock verse three two hundred for first

  • time and it just keeps surging.

  • Linear radio is moving to on demand.

  • We're talking about something that has billions of

  • consumers around the world that are now moving their

  • behaviors online.

  • Something like the Covid will likely accelerate that trend.

  • But Spotify had an uphill battle from music rights to

  • artists demanding fair pay.

  • This is the story of how a small Swedish startup came to

  • define the way we listen to music in the digital age and

  • what we can expect in the future.

  • The podcast is moving to Spotify.

  • The Internet has changed so many aspects of media

  • consumption, but few have had a more tumultuous

  • relationship with these changes than the music industry.

  • I don't believe we're talking about streaming music if it's

  • not for Napster and Sean and everything they did.

  • CDs became the standard medium in the 1990s.

  • At the same time, home computers were becoming more

  • commonplace. Many with disk drives built in, allowing users

  • to take their favorite CDs and rip them on to their devices

  • as MP3 files.

  • This made way for peer to peer music sharing or music

  • piracy through platforms like Napster and LimeWire.

  • If you look at Napster and of course other competitors that

  • followed, it really disenfranchised the industry.

  • Apple, having had great success with iTunes and the iPod,

  • decided to start selling music digitally on iTunes in 2003

  • as a way to charge into the music industry and combat music

  • piracy. It's not stealing anymore.

  • It's good karma. iTunes was the first legal attempt of

  • saying, OK, what Napster is doing is piracy and it is the

  • wild, wild west. How can we start to look at digital

  • downloads? Would people pay 99 cents for a song to be able

  • to have access to it?

  • And it succeeded.

  • It was all about downloads.

  • It's all about iTunes.

  • iTunes was the driving force.

  • It in turn, destroyed other music selling businesses,

  • knocking out Tower Records and almost every other music

  • store. This was a tough pill to swallow for the music

  • industry as a whole.

  • During the 90s, the money was still flowing.

  • The advances I would get, they would spend a million

  • dollars on the promotion of my singles.

  • Me. Like, someone who doesn't even write mainstream stuff.

  • Then the Internet put a stop to that.

  • The industry was so used to big margins.

  • To sell a CD for 20 bucks and it only cost one dollars to

  • manufacture. So the margins were huge.

  • And then go from that to OK, now albums are 9.99 at iTunes,

  • those margins started to deplete.

  • And for music lovers who wanted their music for free, radio

  • was still a resource they cherished.

  • Online radio company Pandora claimed some of that market

  • when it launched in 2000 and 10 years later, it had 48

  • million subscribers.

  • I remember when everyone I know was trying to tweet their

  • Pandora stations.

  • I had it on my phone all the time, was like, oh, like this

  • station becomes this, and it was cool.

  • But pirating was still an issue.

  • A 2007 study concluded that twelve point five billion

  • dollars in total output was lost in the U.S.

  • annually because of music piracy.

  • And radio was great, but users wanted to choose their

  • music. That left the market open for a small Swedish

  • company to make its way in.

  • We want music to be like water, everywhere.

  • Spotify was founded in 2006 and made its way to the U.S.

  • in 2011.

  • It started with an invite only beta program for the free

  • tier and quickly garnered favorable reviews.

  • But it faced an uphill battle to the top.

  • It was getting the rights.

  • It was convincing subscribers to get onto the platform.

  • These were extremely difficult times for Spotify to make

  • sure that they were able to nab the content, especially at

  • that time. One reason for the company's delayed entry into

  • the U.S. market was because of music rights.

  • It's a complicated business that costs Spotify nine point

  • eight billion dollars between its launch in 2018.

  • They made that risky bet at the time.

  • They're like, look. We know we're going to lose money, but

  • that's what we're going to need to do, if our investors

  • support it, for music rights, given the price, given

  • content. Once we acquire that content, it's the carrot and

  • stick approach in terms of subscribers would come.

  • Clearly, the company was onto something and that piqued the

  • curiosity of some major brands.

  • Now it seems every major tech player has its own music

  • streaming platform. Apple dropped iTunes and created Apple

  • Music. Amazon created Amazon Music.

  • Google created Google Play Music and then YouTube Music.

  • Jay-Z even formed his own service called Tidal, which

  • focused on professional sound quality.

  • But Spotify kept its spot at the top thanks to its freemium

  • model, where users can listen for free with ads or pay for

  • a subscription without ads.

  • We believe in a true free service.

  • We believe in something where the user knows that they can

  • go back month and month and month, month again and have

  • access to your music.

  • By the end of 2019, Apple Music had 60 million paid

  • subscribers worldwide.

  • Amazon Music had 55 million subscribers worldwide, nearly

  • all of which were paying subscribers.

  • Chinese company Tencent had thirty nine point nine million

  • paying subscribers, while Spotify had one hundred and

  • twenty four million paying subscribers.

  • It was about free going premium.

  • Conversion was key, and I think Spotify was really the one

  • that started that.

  • Platforms like Apple Music are more exclusionary, forcing

  • customers to pay after their free trial is up.

  • Apple even tried to kill Spotify's free version back when

  • Apple Music launched.

  • Free just makes sense for customers, which is a major

  • reason why Spotify is so popular today.

  • But free isn't so great for musicians.

  • The ad dollars are actually less than the premium

  • subscriptions. But Apple Music, Tidal, those platforms, you

  • get your free trial, but you have to pay.

  • So it's a hard pill to swallow when you're looking at your

  • statement saying, dang, Apple Music.

  • Should I focus my energy on Apple Music because this is

  • where the money is? Or do I still go with Spotify because

  • that's where the users are?

  • Spotify gained popularity, artists started to wonder why

  • they weren't seeing the financial gains they were used to

  • with CD sales and downloads.

  • Taylor Swift boycotted Spotify in 2014, pulling all of her

  • music off the service and saying she and other artists

  • weren't being paid enough for each stream.

  • Adele followed suit in 2015, announcing her album 25 would

  • not be released on Spotify or Apple Music.

  • The term windowing became popular, where artists would only

  • release an album on a certain platform or would not stream

  • an album at all for a certain amount of time.

  • So a lot of artists window the records where it wasn't on

  • Spotify, say, for a certain period of time but on Apple

  • Music. Kanye West was known for this with Tidal.

  • Taylor Swift and Adele both released their albums on Spotify

  • eventually, but it opened streaming services up to

  • questions about how much they were paying their artists per

  • stream. Spotify and Apple both don't release exactly how

  • much they pay distributors per stream, but it has been

  • reported that Spotify pays around 70 percent of the revenue

  • made on a stream.

  • I mean, people listen to my music on Spotify.

  • That makes me happy.

  • Now, I know there people aren't getting paid for that, and

  • that makes me sad.

  • But I think that that's a systemic, technological,

  • capitalistic, human issue.

  • And you have to go back 300 years and look at how a

  • musician was making their living for their intellectual

  • property in 1901.

  • In 2019, Spotify announced it was moving its music focus to

  • a more general audio focus to broaden its offerings and

  • widen its global lead on competitors.

  • It acquired the Joe Rogan Experience early in 2020 and

  • penned exclusive podcast deals with Kim Kardashian and DC

  • Comics. The company's stock jumped eight percent at the

  • announcement of the Joe Rogan acquisition alone.

  • A year ago, when I was on the show last time, I introduced

  • the shifts in our strategy from music to audio.

  • At that time, we were a very small player in audio, but

  • growing fast.

  • Now, we're the number one player in more than 20 markets

  • around the world and quickly catching up in the markets

  • where we're not number one.

  • That's where Spotify is taking the future right now, and

  • analysts believe it can ride that wave for a bit.

  • Ninety percent of our monetization is on the subscription

  • side. But 10 percent is on the ad side, and we do think

  • that there is real growth opportunity for us in the ad

  • space, particularly with podcasts.

  • Just after these podcast deals were penned, the global

  • pandemic started taking its toll on the economy.

  • But Spotify was one of the few companies that weathered the

  • storm. In fact, Spotify stock increased 70 percent from the

  • beginning of January 2020 to the end of June 2020.

  • They benefited from Covid because the lockdown's forced

  • people to stop listening to radio and they discovered

  • Spotify while stuck at home.

  • Of course, yes. If your Spotify, you'd much rather make

  • money from the podcast acquisitions and that then having to

  • pay 60 to 70 cents for every dollar to Universal or Sony.

  • But in order to stay at the top, Spotify is going to have to

  • stay nimble and quick.

  • Competitors like Tencent are already adding features like

  • karaoke to their streaming music platforms.

  • Tencent, at least, is on that path from a gamification

  • perspective. So I do think that that is an opportunity for

  • Spotify to keep in mind, like, yes, it's great that you got

  • Joe Rogan. It's great that you've got Bill Simmons.

  • But look at those opportunities as well.

  • Even though it's a different market, I think there's a big

  • opportunity there. Nevertheless, Spotify is still very much

  • a success story.

  • Today, they're sitting there drinking their cappuccino

  • laughing as they see this success.

Playing music is part of civilized humanity.

字幕與單字

影片操作 你可以在這邊進行「影片」的調整,以及「字幕」的顯示

B1 中級 美國腔

Spotify如何主導蘋果、谷歌和亞馬遜在音樂領域的發展? (How Spotify Dominates Apple, Google And Amazon In Music)

  • 72 0
    day 發佈於 2021 年 01 月 14 日
影片單字