Companies were still incurring millions of dollars of losses because people just wouldn’t pay $20 for an album. The CD stores were still closing down and other piracy websites took the place of Napster. Now, while most people thought that piracy will be gone and that CDs will be back as it turns out, Napster left the market but the behavioral design of the society had been so strongly altered that people just didn’t go back to CDs at all. And, if we pay very close attention, we will be able to learn some spectacular business lessons that one can apply to their start-ups. And, what we are witnessing right now is perhaps one of the most interesting business wars in history. While on one side, the losses of the company have been stacking up rapidly, on the other side, with the giants entering the streaming market, Spotify is officially in a business war. On top of that, its recommendation and playlist have been so amazing that we all agree that it gave us a miraculous experience every single time.īut, fortunately, or unfortunately, in 2021, Spotify is in very deep trouble.

Now, on the outside, if you look at the numbers, while apple music has only 72 million users, Spotify has more than 345 million users and the rest of the competition is not even close. In fact, even during the pandemic itself, the stock price of Spotify went up by 70%. We all know that Spotify is by far the most successful audio streaming platform in the world.

Compare itunes and spotify