Spotify Is Officially Dominating The Music Industry
The streaming service market continues to dominate music sales, and Spotify has become the industry's number-one service. In a huge coup d'etat, Spotify's estimated value now surpasses the value of the entire recorded music industry. After earning funding of $400 million dollars, Spotify is now worth $8.4 million, with the recorded music industry worth only $6.97 million. Spotify's closest streaming competitor, Pandora, is valued at less than half of Spotify's value with $3.5 million.
Check out the bar graph comparing Spotify and the recorded music industry values below: