The pay-to-stream model is becoming a key driver of growth in the digital music business, and audio streaming services are looking to the success stories of YouTube and Netflix to navigate their way through this changing landscape. Streaming services like Spotify and Apple Music are turning to original content and bundled services to make a profit and dominate the industry
For years the music industry has been grappling with how to make money in the digital-first world. And now, after looking at the success of streaming sites like Netflix and YouTube, music execs may have found their answer: original content and the continuation of bundled services.
During an appearance on Squawk on the Street earlier this year, Spotify CEO Daniel Ek said that content creation is a key area of focus going forward."We are investing in more original content that will broaden the appeal of the platform," Ek said."And as we're doing that, we believe obviously subscriber engagement will go up, which increases our long-term opportunity."
Additionally, the concept of bundled services is becoming more of a viable option, most recently with Verizon's announcement that some of its top-tier data plans would include a free Apple Music subscription. The bundling of music streaming services is another way investors see potential growth and expansion within the industry.
This concept of bundling is not just coming from the brain of Wall Street, but also of the music industry itself, which understands that streaming is the future of the music business.
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