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this post was submitted on 17 Dec 2023
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Why? Shareholders gave Spotify billions of dollars - they expect the company to spend that money. Shareholders are quite capable of depositing their own money in a bank if they didn't want it to be spent.
My take is Spotify hired over 5,000 employees over 2020 and 2021 when the economy looked great. Then Russia Invaded Ukraine in 2022 screwing the global economy and particularly Europe which is Spotify's biggest market. They've laid off about half the people they hired, which is unfortunate... but it's understandable. The couldn't have foreseen the economic shift.
Huh? Apple's music service has about a hundred million users. Up from eighty million a few years ago. Spotify has more than twice that, but iTunes is hardly dead.
Apple Music the music subscription service is different from iTunes the music purchasing store. When’s the last time you heard of anyone buying an individual song / album on iTunes?
I’m yet to hear a first time, and I remember when mp3s first became a thing.
You’ve never heard of someone buying music on iTunes?
Genuinely, never. It wasn’t that popular in my country.