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.