Thursday, April 23, 2015

SPOTIFY WORTH MORE Than U.S. MUSIC INDUSTRY At $8 BILLION!!!



WALL STREET JOURNAL reports that SPOTIFY is now worth more than the U.S music industry!!!

They recently acquired $400 million more in funding, which made their worth skyrocket to $8.4 billion. The recording industry is reportedly worth about $6.8 billion

Spotify also topped their competitor Pandora, who ranks below them with a worth of $3.5 billion. The service needs the cash to fund their business model where artists and rights holders are paid 70 percent of their revenue as royalties.
Spotify’s worth has spiked since last year, being valued at $5 billion.

-CCG

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ANS
 

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