That’s a lot considering we usually like more than ten, thirty or fifty songs. iTunes grew in popularity, allowing you to legally buy any song for about $2. In 2008, there was no service like Spotify on the market. However, commentators note another factor that made the company successful: the price. Thanks to this contract, the company was able to conquer new markets faster, because it did not have to worry about copyright for most of the works. With these results, Daniel Ek, the co-founder of Spotify, convinced the leaders of the music industry to take a chance and give him all their copyrighted songs.
However, all this did not stop the company, which not only became convinced of its open principles, but also took advantage of the then crisis in the music industry.īloomberg Business Week wrote that the music industry was worth $27 billion in 1999, but nine years later it was half that, at $14 billion. So it’s safe to say that the founders of Spotify had a hard time. It should also be remembered that in those days, music labels were suing services such as Kazaa, through which we could download the music of famous artists in MP3 format. Spotify was founded in Sweden where Pirate Bay was created, accused of hosting pirated content. The startup also had to deal with another problem that no other company has managed to overcome: prejudice. As you might have guessed, the biggest problem with music listening apps was getting the copyright for songs that were shared with users. Work on Spotify began in 2006 in Stockholm and was spearheaded by Daniel Ek (former CTO of startup Stardoll) and Martin Lorenzon (former co-founder of TradeDoubler).
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