The record companies *were* early investors. As I understand it, Spotify gave th... | Hacker News

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criddell on Feb 14, 2023 | parent | context | favorite | on: How Spotify's podcast bet went wrong

The record companies were early investors. As I understand it, Spotify gave the big record companies pre-IPO stock in exchange for putting their catalogs on the service.

lotsofpulp on Feb 14, 2023 [–]

That makes sense. I can see record companies wanting Spotify to exist just to have an additional customer to help negotiate with Apple/Amazon/Google.

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