On September 22, 2009
The Spotify Rules of Entrepreneurship
Last week I went to a gathering of entrepreneurs, organised by incubator organisation Glasshouse, to hear wise words from 26-year-old co-founder and CEO of online music service Spotify, Daniel Ek. Ek, a veteran start-up king who began his first company at the age of 14, recounted some memories of the early days for the company which is quietly overturning the music industry, by operating on a freemium model. Although the service has no more than 10 per cent of its customer-base actually paying for the service, Ek insisted people who use his service are less likely to conduct illicit file-sharing of music, so the service has a customer loyalty that could potentially grow its subscription revenues. Whether or not Spotify…
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