![]() ![]() “The platform is large enough now that we can systematically start building tools and services that labels, publisher and everyone else in this ecosystem will want to use. “The path to achieving greater gross margins in the future is the platform business,” he says, denying that it’s about a two-yearly ‘Hail Mary’ moment in licensing negotiations with rightsholders. Of course we’re trying to learn from that business, as they’re trying to learn from what we do… but that’s the extent to which there’s a partnership.”Ģ.46pm: Ek is talking again about Spotify’s future margins. ![]() ![]() “We viewed it strictly as a financial investment. “Our view is that the Chinese market isn’t necessarily very favourable to western companies… so our view was we wanted to get exposure to that growth,” he says. ![]() And we need to continue to be forward-leaning from a tech perspective, which we have done.” And that’s a wrap!Ģ.49pm: A question about Spotify’s partnership with Chinese company Tencent: could the two companies go together to the labels to negotiate, and drive down the licensing terms? Ek says not. “We need to have a better user experience for free, which we’re working on constantly, both from an R&D perspective and a licensing perspective. Someone in streaming is going to eat that marketplace, and the labels are going to make a lot of money,” he says. And in the US, the labels get paid nothing for radio play. “There’s an $18bn ad market in the US and it’s bigger globally. It remains to be seen if we can do that,” says McCarthy. Read on, and refresh for new updates, which will appear at the top.Ģ.50pm: The final question: how important is growing the ad-supported tier for Spotify? “I’d be thrilled if we could double the revenues as a percentage of total. Music Ally is here with a keyboard, a cup of tea, and Lady Gaga’s 2009 Poker Face royalties* in case we need to order pizza in (small, no extra toppings or garlic bread) to fuel our liveblog of the key points. (*since debunked) The event is expected to last two hours, starting at 1pm Eastern-time. Unusually, Spotify is streaming the event live to anyone who wants to watch. Spotify is going public next month, and today is the Spotify investor day where its key executives outline its pitch to potential shareholders ahead of the listing. ![]()
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