very new to all of this but i can't believe what im reading here. you guys are all trolling right?
any of you who bought first day at opening would get outsmarted by any 15yo crypto trader kid because they know what happens day 1 when something is listed and one group of people already trades it and the others don't.
its hard to compete against apple? WHAT?! bohoo?! they already are competing and took over itunes by search interest early 2017. itunes is pathetic. feels like a software from the 90s...
https://trends.google.com/trends/explore?date=all&q=spotify,itunes
here is what i see from consumer/outside perspective:
- for 10 bucks you get access to the biggest music library in human history
- there is NO illegal alternative streaming platoform which has a better library (there is for netflix, netflix library is embarrassingly small, total rip off.)
- the company is loosing money but they dont increase sub costs.
- from a software/UX perspective, itunes is not even close to compete. nothing is.
if you are streaming music in 2018 and its not spotify, you are.. probably over 50yo.
and here is something interesting ive spotted looking into it:
spotify premium to freeuser ratio halfes every year from 2015-2017. thats right. most people who start to use spotify for free end up paying for it - beaucse its a solid platform. beacuse its not a rip off.
once they establish themselves as not only a streaming platform but also a publishing and marketing platform they will cut down on music label costs and legal fees drastically. because new artists simply will not have the need to sign a shitty record deal anymore.
first goal as a musician is not to get a record deal anymore: first and foremost you have to establish a social media following.. once you have that: if you could pick between signing all your rights away as an artist of self publish your work on spotify, which would you choose? its near zero marginal cost. no record label needed!
now what worries me, being a newbie to the market, especially after reading on this board is - does the market have the ability to value in the event horizon and solidity of this company? seeing things like facebook and tesla being hot stocks i cant find myself thinking that people dont actually care about the product.
would love to see some fruitful discussion here.