Quote:
Originally Posted by
haysonics
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Some folk laughed when Jobs launched iTunes but it was profitable from day 1 and it wasn’t long after that Apple became the largest music store on the planet (and still is).
That’s extremely interesting considering that Spotify wasn’t profitable (in book-keeping terms) for their first 15 years!
Of course the owners became multi-billionaires through equity and stock market schemes, growing at all costs and pumping up evaluation while technically being improfitable. There’s a name for that. Ponzi scheme?
In any case I have a lot more respect for Apple and iTunes than for Spotify. Apple put a reasonable value on music, and the money went directly to the right people. If you buy a song off iTunes, the people who made the music actually get that money.
While on Spotify, the money made by indie releases instead goes to the major labels and the mood music fake artists.
Of course, streaming was nearly inevitable (it could have been declared illegal of course, no reason it couldn’t have). But if it would have emerged out of iTunes, it would have been way fairer, more sustainable and less slop and podcasts on the platform.