Analysis of existing competitors for Spotify
Instructions
Discuss the key success factors in the industry of music production and distribution and asses the existing competitors, including Spotify. Describe interaction between the companies and any indirect players that could change the competitive dynamics of the industry. No conclusion, please.
Answer
Spotify Market AnalysisOnline streaming has emerged to be a common approach by which clients can obtain music. Spotify is a digital music platform that offers its consumers the ability to stream music without the need to download the music directly. Spotify has grown to become a leading online streaming platform in the music business, with an estimated 50 million paying subscribers (Riesewijk, 2017). Spotify not only offers exposure to the artists but also plays a critical role in recording production. Additionally, Spotify has also contributed to the revenue growth for the music industry since it was established. This paper provides a discussion of the critical success factors and the existing competitors for Spotify. Key Success Factors Spotify is built on the ground phrase "the right mu...
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