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Spotify: The Times They Are a-Changin'
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Spotify: The Times They Are a-Changin'

Some thoughts on the world's largest audio streaming service

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TSOH Investment Research
Apr 12, 2021
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TSOH Investment Research
Spotify: The Times They Are a-Changin'
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“Let me tell you how it will be
There's one for you, nineteen for me
‘Cause I'm the taxman
Yeah, I'm the taxman
Should five percent appear too small?
Be thankful I don't take it all”
- “Taxman”, The Beatles

In 2013, Spotify was at a crossroads.

The streaming service, which had endured “years of frustrating negotiations” with the record labels prior to its U.S.…

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