Related news reports indicate that Warner Music Group announced earlier that it has sold all of its shares in Spotify. However, Warner Music Group CEO Steve Cooper emphasized that the company remains optimistic about the growth of subscription-based streaming video services and stressed that the company will not hold publicly traded stocks for a long time, but will continue to invest in a flexible manner.
According toVariety websiteAccording to news reports, Warner Music Group confirmed earlier that it has sold all of its Spotify holdings, but explained that it is not pessimistic about Spotify's future development. It emphasized that the company is still optimistic about the growth of subscription-based streaming video services. It is just that the company will not hold publicly traded listed stocks for a long time, but will continue to invest in a flexible manner.
However, Sony Music confirmed in May this year that it would sell half of its shares in Spotify for US$5 million. Merlin Network, the world's largest independent music copyright agency, also sold its shares in Spotify for US$7.5 million. As for Vivendi SA, the parent company of Universal Music Group, it has not yet sold its shares.
Judging from the current growth trends of the streaming music market, it has indeed gradually eroded the traditional record market. Therefore, many investors remain optimistic about the development of streaming music services, including Spotify. At the same time, Apple continues to expand its Apple Music service model. In addition to continuously attracting music content creators, it also integrates music-related videos, playlists, and other content to connect with more user stickiness and growth opportunities. Spotify, on the other hand, continues to move closer to independent music creators, hoping to gain a greater advantage in market competition.
Although traditional record companies still maintain their existing business models, they must generally begin to move closer to streaming music applications. After all, if consumers gradually become accustomed to listening to music through their mobile phones, it means that embracing streaming music in the future is inevitable. Therefore, just as video game companies are beginning to consider the smartphone market and camera companies are beginning to think about transformation models, traditional record companies must also begin to conceive of a larger digital development trend rather than just maintaining the old business model.
