The integration of the Internet into our lives has changed our habits. While regarding 10 years ago, the music industry consisted of the distribution of physical copies of musical works, via CD or vinyl, today we see its emergence on Web 2.0. Therefore, the trendiest way to access music and other audio content such as podcasts is audio streaming.
From their creation to their completion, the works broadcast on streaming platforms are part of an important economy – the digital economy. It is therefore necessary to see what the digital economy is and how it is linked to Spotify. Not only that Spotify affects the digital economy, but the digital economy also influences Spotify’s attitude towards content publishers. This situation also encourages Spotify to treat shared content on its platform as a free commodity.
Spotify is necessary for most people using the Internet and listening to music often and is also the undisputed leader in providing music and audio entertainment as a streaming service. Audio streaming services have a major influence on the lives of their consumers, have a significant impact on artists and content creators, and play a key role in the music industry and how people interact with the Internet in general. But, how did Spotify manage to become the leader in the field, as it is today?
Firstly, Spotify was one of the pioneers in providing a legal way for people to get exactly what they were looking for: listening to music. On the other hand, among the main advantages that the technologies of the digital economy provide are the reduction of information and therefore transaction costs, innovation, promotion, efficiency, and employment opportunities. Spotify is an example that takes part in this business model. It allowed musicians or podcasters to highlight their material and promote themselves. Public playlists and social network integration allow artists to advertise themselves, and friends to bond around common interests. With so many artists, free users and subscribers enjoying Spotify’s approach to the music industry, it is fair to say that it is a major player in the digital economy.
The use of audio streaming platforms weighs on a determined balance since it is an economy that revolves around many players. It is a true parallel market where Spotify generates revenue from users and artists. Users pay to access music; artists pay to reach their audience.
To be continued…
Source :
Memory “The conditions of use of audio streaming platforms: the example of Spotify through makromusic”, Irmak TUNCER, Intellectual Property lawyer.
