Abstract:
This individual study explores and discusses the organizational and market aspects connected with creating a management framework that has enabled Spotify to have a disproportionate share of the music streaming industry's total earnings, Therefore, Spotify can continue dominate the market.
The research comprises of two studies : one investigates the company's history, performance, and marketing initiatives, and another analyzes the market situation. The paper finds that the company's present shortcomings include its high royalty costs, unique selling proposition, payment to music owners, and current licensing agreements with music rights holders. Apart from that, the threats to Spotify include legal conflicts with multiple parties over contracts and also the fact that Spotify lacks the vast ecosystem strength that Apple and Amazon now possess.
In order to move forward, Spotify can make the most of its strong brand recognition and position as the leading audio streaming service based on the number of users to gain customers in both new and established areas by potentially offering unique material that might reduce its cost structure and enhance its distinction by producing unique music content that is only accessible on Spotify, much as the company does now with podcasts.
