'People really like music. But the music industry lets everyone else capture the value.'
Music Business Worldwide
The Future of Music Platforms
I think Spotify has, right now it goes back and forth a bit about twice the market cap of Warner Music Group. I think that we let everyone else capture the value and then go back and say, well, you need our licenses and then we get what $200 million on TikTok's $10 billion? It's not a great value proposition. Even Disney woke up one day and realized Netflix was capitalizing their own IP,. And then we back down and just use it as a collective bargaining tool.
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