He and his partner invested largely their own money until they showed traction, and likely would have never been funded otherwise.īut now, the RIAA salutes Spotify for building a product that makes people want to spend money on music again, as the new digital public enemy is YouTube. It took Founder Daniel Ek two years to get his first deals in Sweden, and another two years to launch in the US. It was also no small thing for Ek to start Spotify with the stance of not wanting to “Disrupt” music labels-he wanted to help them. It was no small thing for the Recording Industry to learn to love Spotify… or any Internet music company for that matter. Ironically, Spotify was backed by the guy who helped enable all that piracy to begin with: Napster’s Sean Parker. After almost two decades of decline, music industry revenues are finally starting to recover again and a lot of the credit goes to one guy: Daniel Ek, Founder of Spotify.
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