Entry 3!!!! Spotify!!

3A. 

Talking about Spotify and it has been a major success since hitting the market in 2006, it’s an innovation in itself! The digital music service is one of the most popular ways to listen to all your favourite music in the one place. It’s a credit to the creators of the service because it has revolutionised the music industry. This innovation is taking away from records and CDs which saves people money in the long run and they have a wider variety to choose from. The innovation of digital music is something that I personally use and for a very small price to have all my favourite songs at my fingertips (Rayna, T & Striukova, L 2016).  

Spotify was founded by CEO Daniel Ek and has been in continuous development since 2006 according to TNW.com by a company in Sweden (Sawers, P 2011 - Fast Company 2018). And!!! what an amazing job they have done since that time. Spotify is now available all round the world which allows millions of customers to utilize their service (Fast Company 2018).   

Personally, this innovation makes it harder for music artists to create albums because people can now pick and chose which songs they like and create their own playlists. I know I have different playlists based on my mood or what I’m doing. I have many friends who would prefer Apple music over Spotify because of the device compatibility but to be honest Spotify can be used on any device which is a credit to the creators and developers.

In 2016 Troy Carter, Lady Gaga’s ex-manager took over as global head of creator services and he seems on all reports to love what he is seeing and the development yet to come, which is exciting to hear as a customer (Fast Company 2018).  

The best part about Spotify is that you don’t have to pay for the service either, there is a free component to the application which is why it gets so many users. The catch is that there are adds every thirty minutes, which sometimes is annoying. To get no adds and un-interrupted music people pay a small sum of money to get their favourite songs offline which is a great business model to have and something that I feel Apple music is trying to replicate.

The final positive that I would like to leave you with is that Spotify is not just for music but has videos and podcasts which I love to listen to! They have interesting news and daily issues which are insightful and informative. I love the direction which Spotify is moving and cannot wait for what the future holds.  

References

Rayna, T & Striukova, L 2016 ‘360° Business Model Innovation: Toward an Integrated View of Business Model Innovation’, Research-Technology Management, vol. 59, no. 3, pp 21-28. <https://www.tandfonline.com/doi/abs/10.1080/08956308.2016.1161401> Accessed: 1/9/18

Sawers, P 2011, ‘Spotify: the story so far’, The Next Web, Europe.  Accessed: 1/9/18 <https://thenextweb.com/eu/2011/07/14/spotify-the-story-so-far/>

Fast Company 2018, ‘Most innovative companies: Spotify’, Mansueto Ventures, New York. Accessed: 1/9/18 <https://www.fastcompany.com/contact-us>