Have you ever stopped to think how different the world used to be when all music was on physical media like records, tapes, and CDs? This was how the world was in 2006, when at the age of 23, entrepreneur Daniel Ek founded Spotify, a music streaming service that completely transformed the distribution of music. No longer was it required to have a physical copy of a song, when it could be acquired on Spotify. In 2018, Spotify was offered to the public and the impact of such a service was really seen. Instead of royalties being collected from individual downloads, users now listen to advertisements or pay for ad-free subscriptions and listen to whatever music they desire. Ek correctly figured this would work out to significant earnings for musicians. Despite being so young, Daniel had an ambition for easier access of music, that allowed people to experience the gift of music without paying for individual downloads or physical media. He upset an industry that for decades relied on the individual sale of physical songs and albums, forever changing the essence of the longstanding music industry as a 23 year old.
Wow, I never knew he developed this. It was so impactful and well-needed in his time. This probably laid the framework for things to come that we have now. He also had the customers in mind when developing this because cost is usually the problem with a lot of things but now with this.
This is such a groundbreaking invention and is so prevalent in our society today. Breaking what is previously accepted or known as the only way progresses society! We need bold entrepreneurs to innovate highly used products, just like music.
I personally use spotify and I love it! It was interesting to read Daniel’s story as I had no clue who actually created the best music platform to date.