IMO shareholders should be livid
Why? Shareholders gave Spotify billions of dollars - they expect the company to spend that money. Shareholders are quite capable of depositing their own money in a bank if they didn’t want it to be spent.
My take is Spotify hired over 5,000 employees over 2020 and 2021 when the economy looked great. Then Russia Invaded Ukraine in 2022 screwing the global economy and particularly Europe which is Spotify’s biggest market. They’ve laid off about half the people they hired, which is unfortunate… but it’s understandable. The couldn’t have foreseen what happened.
Spotify removed the need for mp3’s for the majority of people, largely killing iTunes
Huh? Apple’s music service has about a hundred million users. Spotify has more than twice that, but iTunes is hardly dead.
squidman64@lemmy.world 9 months ago
Apple Music the music subscription service is different from iTunes the music purchasing store. When’s the last time you heard of anyone buying an individual song / album on iTunes?
1371113@lemmy.world 9 months ago
I’m yet to hear a first time, and I remember when mp3s first became a thing.
Jtotheb@lemmy.world 9 months ago
You’ve never heard of someone buying music on iTunes?
1371113@lemmy.world 9 months ago
Genuinely, never. It wasn’t that popular in my country.
small44@lemmy.world 9 months ago
I hear people vuying music from Bandcamp everyday
lemann@lemmy.one 9 months ago
R.I.P. Bandcamp
blazeknave@lemmy.world 9 months ago
Yarrrrrr
joel_feila@lemmy.world 9 months ago
This is the way
olmec@lemm.ee 9 months ago
I still buy music on iTunes. I prefer having my collection available on CD, but if I only want a single track or two, I just go to iTunes and buy the songs. This year, I think I bought 4 songs. It isn’t ton, but it is still in my mind.