Daniel Ek: belief

Transcript context

…It's necessarily had to be because streaming, while at first, it looked risky, and then turned out to be—I don't think it's blowing smoke to say, you guys save the music industry—it is the thing that while the industry was in dramatic decline, ended up making it so that the music industry now generates more revenue than it ever has before with by far the largest thing being streaming. At the same time, if you're a Taylor Swift or you're any big artist, you're not making as much money streaming as you would have on CD sales in the CD sales heyday, so you have to figure out what the new business model looks like as a creator. You have to figure out what your unique constellation of revenue streams are because it's not just going to be Walmart or Target is going to cut me the check from selling CDs. Yeah, the music industry is healthier than it's ever been before. Certainly, when you think about it from a singular artist point of view, there was a point in time where the majority of the revenue could be derived from recording music. The challenge to that, what I would say, is that the time in history where that was true was actually very, very short. It was the heyday of the CD era, right?…

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