Apple Music Is Helping Spotify Grow, Says CEO Daniel EK
One of the biggest unknowns when Apple Music launched was if or how much it would hurt Spotify. According to Spotify CEO Daniel Ek, the launch of Apple Music has actually helped to drive new subscriptions.
Is the launch of Apple Music hurting Spotify?
“Apple has validated the thing we said 10 years ago, which is that the world is moving to streaming,” Spotify CEO Daniel Ek told reporters this week, adding that subscriptions are growing faster than ever.“We keep setting new records week to week. It’s getting easier and easier to sign people up.”
On moving from freemium to an all paid subscription model, Ek cautioned,“It would be a mistake for us to pull back now from what we’ve been doing. Spotify today is the second-biggest revenue generator for the entire global music industry, and we’re the fastest-growing one, and the reason why we are in those two positions is because of our freemium strategy.”
“When you look at this gigantic global opportunity, it’s our mission to grow the entire music industry,” he said. “People now accept the streaming future.”