LONDON (Hypebot) –
Speaking at the Mobile Entertainment & Lifestyle at the Mobile World Congress in Barcelona, Spotify CEO Daniel Ek announced that the average Spotify user has 15,000 tracks stored in their Spotify playlists. According to EK, that compares to just 500 tracks on the average PC.
The numbers are a testimony to the depth of Spotify's catalog as well as the voraciousness of its users. But is this good news or bad news for the struggling recorded music industry? The average Spotify user is discovering and enjoying a much deeper catalog of tracks then most consumers. That means many more opportunities to gain fans. But the stats may also mean that some of those 15,000 tracks represent lost purchase opportunities.
Get adoption rates for Spotify, MOG and other subscription services up to a point where the pool of money being divided is far greater than it is now. (Think of the money distributed by performing rights societies expanded to the level of global consumerism.) Then add on and expand the kind of fan conversion and outside of the box music monetization efforts that are just gaining traction and you have a potential new paradigm for the music industry.
But does anyone have a better idea?