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EDM.com Staff

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: 

[H/T: Consequence of Sound]

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Tags money music industry Pandora sales Spotify

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