Spotify, which is the world's biggest music streaming platform is expanding its user base rapidly with a rise of 18% of increase in revenue last year (£187.2m)
The digital movement of desktop to mobile has led Spotify to control the mobile market with its streaming app. Many people are using their smartphones to listen to music and the old-media of downloading music via services such as iTunes has died out since each album has be paid for separately and the streaming platform is what seems to be the future.
- Spotify offers customers access to more than 30m songs and charges a fee of £9.99 a month for its premium subscription service, but also has a free service, which features advertising.
- Spotify UK’s cost of sales - (royalty and distribution costs paid to music labels, artists and other copy right holders), rose 20% to £149m.
- Ed Sheeran was the most streamed artist in the UK (2015) with 59+ million listeners.
Since streaming is controlling the music market in countries where high speed internet is easily accessible, radio is an option of the past and upcoming car technology that features similar graphical interface as many Smart-tv will allow consumers to link their Spotify accounts to their cars. Is this an absolute elimination of radio? If I had the option to choose then I would never pick radio. This change in car technology will not become mainstream for decades as smart car prices are high and traditional vehicles remain but it does seem that just like the decline in print media, radio will become more of a novelty service, a place where limited or semi-exclusive content could be played.
Radio will remain a source of news and music for those who lack the internet connection or for those in 3rd world countries who don't have access to emerging technology.
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