They created Euterpe – a copyright as a service NFT platform, where musicians and creators can sell high-quality IP NFT works to fans. A group of copyright experts who graduated from Stanford University and worked at Tencent Music, Sony Music, ByteDance, and Warner Bros. Perhaps, many investors and users believe that there is no room for revolutionary innovation in the music industry anymore. According to the latest report of MIDiA Research, Spotify remains in first place with a market share of 31%, followed by Apple Music, Amazon Music and Tencent Music with market shares of 15%, 13% and 13% respectively. Spotify was one of the few media companies that prioritized user experience at the time, and it grew to become the largest music streaming service in the coming years.įacing fierce competition from Spotify, Apple launched Apple Music – a subscription-based streaming service, in 2015. Spotify continued to optimize for user experiences and later integrated recommendation algorithms.
Spotify first predicted user behavior, cut one song into several parts, and then used P2P technology to optimize for on-demand listening experience. In its early days, Spotify used hybrid technology to shorten buffering time. In 2006, Spotify was born and it would go on to become the largest audio streaming service provider in the global market. iTunes changed how the music industry operates, and quickly became the world’s largest online music store. Subsequently, iTunes launched the iTunes Music Store, where users can purchase any single song at just $0.99, instead of having to purchase the entire album.
In 2001, Steve Jobs introduced the first generation of iTunes at the Macworld Expo.
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