1 00:01:39,803 --> 00:01:41,723 NEWS - PROTESTS CONTINUE OUTSIDE SPOTIFY'S HQ 2 00:01:41,803 --> 00:01:43,963 Have you checked your pulse? 3 00:01:44,043 --> 00:01:45,883 -Sorry? -Have you checked your pulse? 4 00:01:45,963 --> 00:01:50,603 Thanks for coming on a Sunday. 5 00:01:50,683 --> 00:01:52,123 Yeah, it's no big deal. 6 00:01:52,203 --> 00:01:53,043 Is Jim here? 7 00:01:53,123 --> 00:01:55,683 -Yes, he's in the pavilion. -Okay yeah, good. 8 00:01:55,763 --> 00:01:57,803 -Jim! -Daniel. 9 00:01:57,883 --> 00:02:00,363 -Good to see you. How are you? -I'm great, and you? 10 00:02:00,443 --> 00:02:02,163 -Yeah I'm good. Thank you for coming. -No problem. 11 00:02:02,243 --> 00:02:05,123 Always a pleasure to come over here and get down to the nitty-gritty. 12 00:02:05,203 --> 00:02:06,803 -Yeah. -How's the Arsenal doing? 13 00:02:06,883 --> 00:02:08,123 Fucking terrible, they lost again. 14 00:02:08,203 --> 00:02:11,923 -They'd be better off with you in charge. -Yeah. Your words, not mine. 15 00:02:12,003 --> 00:02:13,403 So… 16 00:02:13,483 --> 00:02:17,043 As you know, we have an urgent need to maximize revenue, 17 00:02:17,123 --> 00:02:19,723 or at least bring down our cost base. 18 00:02:19,803 --> 00:02:23,283 If this business is gonna thrive, we have to reduce the cost of the music. 19 00:02:23,363 --> 00:02:26,203 That's the main reason we spent the last few years testing Discovery Max, 20 00:02:26,283 --> 00:02:28,643 and now, finally, we have some useful data. 21 00:02:29,403 --> 00:02:30,403 Yeah, and…? 22 00:02:31,883 --> 00:02:33,203 Fucking fantastic. 23 00:02:33,283 --> 00:02:34,523 Yeah? 24 00:02:34,603 --> 00:02:38,683 The artists have seen their followers go through the roof. They fucking love this. 25 00:02:38,763 --> 00:02:40,523 -Alright. -When they get the promotion boost, 26 00:02:41,123 --> 00:02:45,163 they are seeing listener growth of 40, 50, even 100%. 27 00:02:45,243 --> 00:02:48,203 Concert sales and merch sales are going up… 28 00:02:48,283 --> 00:02:50,803 Everybody who signed up to it said they'd do it again, no question. 29 00:02:50,883 --> 00:02:53,403 Why don't we roll it out across the whole company? 30 00:02:53,483 --> 00:02:55,283 Because it's highly contentious. 31 00:02:55,363 --> 00:02:59,323 And because we only promote bands that agree to hand back a cut of their royalty. 32 00:02:59,403 --> 00:03:02,603 The artists consent to everything. We're not charging anyone a penny. 33 00:03:02,683 --> 00:03:07,243 It's a win-win situation, a new business model for a new kind of music industry. 34 00:03:07,323 --> 00:03:09,803 Well the Musicians' Union calls it payola. 35 00:03:09,883 --> 00:03:12,363 And Senator Madison Landy of the US Senate 36 00:03:13,043 --> 00:03:16,843 wrote Spotify a letter expressing significant concern 37 00:03:16,923 --> 00:03:20,843 that we are participating in anti-competitive activities. 38 00:03:20,923 --> 00:03:22,563 Well, that's not fucking good. 39 00:03:23,403 --> 00:03:27,003 Bottom line is that 70% of everything we bring in on the music, 40 00:03:27,083 --> 00:03:30,403 goes straight back to the record companies. 70%! 41 00:03:30,483 --> 00:03:33,083 What other business has to deal with those kind of costs? 42 00:03:33,163 --> 00:03:36,443 Discovery Max is Spotify doing things its own way. 43 00:03:36,523 --> 00:03:39,123 It's us showing innovation, reshaping music. 44 00:03:39,203 --> 00:03:41,403 It's us putting power into musicians' hands. 45 00:03:41,483 --> 00:03:43,123 By halving their royalties. 46 00:03:43,203 --> 00:03:45,763 I mean, If we don't push the boundaries, we are not gonna survive. 47 00:03:45,843 --> 00:03:49,203 Listen, what you and your team have done is amazing, and I love it, 48 00:03:49,283 --> 00:03:51,683 but we do need to take this step by step. I mean… 49 00:03:51,763 --> 00:03:53,403 For now, let's just… 50 00:03:53,483 --> 00:03:57,683 let's roll it out in a way that keeps everyone on our side, okay? 51 00:04:03,483 --> 00:04:04,803 -Hi honey. -Hi. 52 00:04:04,883 --> 00:04:06,963 -How was the meeting? -It was good. 53 00:04:07,043 --> 00:04:08,443 Is this the new architect? 54 00:04:09,883 --> 00:04:12,163 -That's exactly what it is. -Yeah, okay. 55 00:04:12,883 --> 00:04:16,683 -Are they tearing it all down? -Yeah. Yeah, I think so. 56 00:04:17,283 --> 00:04:18,363 Should I pick up the kids? 57 00:04:18,443 --> 00:04:21,763 -No. No, your mom will do that. -Oh, okay. 58 00:04:22,683 --> 00:04:27,523 Hey… You aren't worried? About the protests? 59 00:04:27,603 --> 00:04:30,243 -No. -No? 60 00:04:30,323 --> 00:04:31,563 But I can see that you are. 61 00:04:33,723 --> 00:04:36,083 I'm just worried they're gonna blame you for this you know… 62 00:04:36,163 --> 00:04:37,483 No, they won't blame me for anything. 63 00:04:37,563 --> 00:04:41,283 Look at this. This singer has been on Spotify since the start. 64 00:04:41,363 --> 00:04:44,163 Do you know why she stays? Because she knows we're the best. 65 00:04:44,763 --> 00:04:47,083 It's as simple as that. 66 00:04:47,163 --> 00:04:48,763 I promise. 67 00:04:48,843 --> 00:04:50,483 Spotify, what we want… 68 00:04:50,563 --> 00:04:53,203 A small but persistent group 69 00:04:53,283 --> 00:04:58,283 has been protesting outside Spotify's headquarters here in Stockholm. 70 00:04:58,363 --> 00:05:02,363 We are all activists now. They have forced us into it. 71 00:05:02,443 --> 00:05:07,443 These comments are from protest leader Nadja Johansson, an ex-musician, 72 00:05:07,523 --> 00:05:10,243 who feels forced to act because of the situation… 73 00:05:10,323 --> 00:05:13,843 Ok, let's see… You know what? Let's do this later. 74 00:05:13,923 --> 00:05:17,123 You have to go to school. I don't want you to be late today. 75 00:05:17,203 --> 00:05:18,763 Can I have an iPhone? 76 00:05:23,283 --> 00:05:25,563 No, I can't afford an iPhone, honey. 77 00:05:25,643 --> 00:05:28,003 But all my friends have one. 78 00:05:28,083 --> 00:05:29,803 It is being predicted… 79 00:05:29,883 --> 00:05:33,363 I know, but… 80 00:05:33,443 --> 00:05:36,083 Hey, there's food in the fridge. 81 00:05:36,163 --> 00:05:38,443 I'm working late tonight. 82 00:05:38,523 --> 00:05:41,323 And after work, mum has a gig. 83 00:05:42,123 --> 00:05:46,243 And the more gigs I get, the closer we are to an iPhone. 84 00:05:46,323 --> 00:05:47,203 -Right? -Yeah. 85 00:05:48,523 --> 00:05:51,243 Go on. Here, don't forget your bag. 86 00:05:55,443 --> 00:05:58,203 I'm standing here with Spotify's CEO Daniel Ek. 87 00:05:58,283 --> 00:06:02,203 What would you say to the shareholders who worry about the negative reactions? 88 00:06:03,043 --> 00:06:04,923 No, I'm not worried about that. 89 00:06:05,003 --> 00:06:07,203 There's always going to be people who are opposed to success… 90 00:06:19,443 --> 00:06:20,643 The doors are closing. 91 00:06:26,683 --> 00:06:29,603 I LOVE IT 92 00:06:30,843 --> 00:06:32,163 First floor. 93 00:07:16,083 --> 00:07:18,563 -Hey, great gig. -Thanks. 94 00:07:18,643 --> 00:07:22,283 -Yeah, I sent you the money. -Thanks, awesome. See you. 95 00:07:22,363 --> 00:07:23,443 See you. Take care. 96 00:07:36,043 --> 00:07:38,923 You've only given me half. What's going on? 97 00:07:40,803 --> 00:07:43,923 I didn't sell as many drinks today as I did last time or the time before that. 98 00:07:46,123 --> 00:07:50,083 Wait a minute, I played a gig you hired me to play. 99 00:07:50,163 --> 00:07:54,403 Yeah, but do you want me to go broke just so you can play here? 100 00:07:55,403 --> 00:07:59,643 I mean, you get free PR by playing here. People go home and stream your music. 101 00:07:59,723 --> 00:08:01,203 That's great for you. 102 00:08:08,123 --> 00:08:11,923 LIVE MUSIC TONIGHT! 103 00:09:21,523 --> 00:09:25,883 Okay, I… I don't know how this will turn out, 104 00:09:25,963 --> 00:09:29,643 but I have reached a place where there's nothing more that I can do. 105 00:09:30,283 --> 00:09:31,923 I am a musician. 106 00:09:32,683 --> 00:09:37,123 I've worked my butt off releasing and writing six albums in the last ten years. 107 00:09:37,203 --> 00:09:42,723 I've had many hits. My songs are played close to 200,000 times a month on Spotify. 108 00:09:43,323 --> 00:09:46,963 However, I don't make enough from any of that to pay my rent. 109 00:09:47,923 --> 00:09:51,443 And I take all the gigs I can get, I have a job on the side, 110 00:09:51,523 --> 00:09:55,043 everything for the privilege to make music. 111 00:09:55,123 --> 00:09:59,283 Even though I tell myself every day that soon things might improve, 112 00:09:59,363 --> 00:10:04,043 if I write a hit song, or end up on the right playlist, things will change. 113 00:10:04,123 --> 00:10:08,043 But the truth is that the system is totally broken. 114 00:10:09,243 --> 00:10:13,923 The music industry made 23 million dollars last year. 115 00:10:14,003 --> 00:10:15,843 And the record companies are thriving. 116 00:10:15,923 --> 00:10:19,243 They're making more money now than they did before piracy. 117 00:10:20,003 --> 00:10:23,683 The ten people who make the most money in Sweden 118 00:10:23,763 --> 00:10:26,403 come from the same streaming company every year. 119 00:10:27,123 --> 00:10:31,283 Despite that, all the artists who create music for their platform 120 00:10:31,363 --> 00:10:33,323 can barely survive. 121 00:10:34,563 --> 00:10:35,723 Daniel… 122 00:10:35,803 --> 00:10:38,363 Today you liked one of my songs. 123 00:10:38,443 --> 00:10:42,803 You added it to your playlist, which is awesome. 124 00:10:43,803 --> 00:10:48,323 But if you really liked it, how about you sit down and talk to us. 125 00:10:49,523 --> 00:10:53,723 Help us create a new discussion about the streaming business. 126 00:10:54,363 --> 00:11:00,963 Help us make a new system, a music industry where we can actually survive. 127 00:11:01,043 --> 00:11:06,363 BOBBIT THE SYSTEM IS BROKEN 128 00:11:22,443 --> 00:11:23,963 Nadja? Hi. What's going on? 129 00:11:24,043 --> 00:11:29,203 I love you so much! You are amazing! Oh, you are so great! Thanks! 130 00:11:29,283 --> 00:11:32,563 -Have you lost you mind or something? -No, your post! 131 00:11:32,643 --> 00:11:36,323 You've done more with one video than we've done with 15 demonstrations. 132 00:11:36,403 --> 00:11:38,443 And it's perfect that it was you! 133 00:11:38,523 --> 00:11:42,163 This is really great to hear, but I have to get Naomi ready for school. 134 00:11:42,243 --> 00:11:43,963 Then I have got to go work, so I… 135 00:11:44,043 --> 00:11:47,323 Are you kidding right now? This is so fucking big! 136 00:11:48,003 --> 00:11:50,003 I don't know what you're talking about? 137 00:11:51,803 --> 00:11:53,243 -Everything okay? -Absolutely. 138 00:11:54,043 --> 00:11:58,283 I know this is something you dismissed a long time ago and… 139 00:11:59,123 --> 00:12:03,763 Well, you may not like that I bring it up, but considering the situation and… 140 00:12:03,843 --> 00:12:06,643 I'm sorry to interrupt, but have you been online? 141 00:12:06,723 --> 00:12:08,523 -No. -Take a look. 142 00:12:10,723 --> 00:12:12,283 CHILDHOOD FRIEND CHALLENGES DANIEL EK. 143 00:12:12,363 --> 00:12:16,123 Bobbi Thomasson, musician and childhood friend of Daniel Ek 144 00:12:16,203 --> 00:12:20,763 posted an emotional and personal video on her Instagram story yesterday. 145 00:12:20,843 --> 00:12:24,203 Daniel, today you liked one of my songs. 146 00:12:24,283 --> 00:12:29,003 You added it to your playlist, which is awesome. 147 00:12:29,083 --> 00:12:33,923 But if you really liked it, how about you sit down and talk to us. 148 00:12:34,003 --> 00:12:38,883 Since last night, the video has been shared more than 12,000 times, 149 00:12:38,963 --> 00:12:42,483 and has the support from a growing number of other musicians. 150 00:12:42,563 --> 00:12:48,003 Everybody, this is Bobbi Thomasson, she can get to Daniel Ek. 151 00:12:52,123 --> 00:12:54,163 Hi. 152 00:12:55,363 --> 00:12:56,763 Well, we've been doing this for months, 153 00:12:56,843 --> 00:13:00,763 but nobody really cared until after your post. 154 00:13:00,843 --> 00:13:01,683 -Bobbi. -Rhonda. 155 00:13:01,763 --> 00:13:02,603 Nice to meet you. 156 00:13:02,683 --> 00:13:04,363 We put your video on our feed. 157 00:13:04,443 --> 00:13:06,923 It's gotten over 20,000 likes in under two hours. 158 00:13:07,883 --> 00:13:10,763 And the hashtag 'Scratch the Record', trending since yesterday. 159 00:13:10,843 --> 00:13:14,003 You connected with people, now we are all in. 160 00:13:14,083 --> 00:13:17,043 No, I don't think that I'm the right person for this. 161 00:13:17,123 --> 00:13:21,163 I just posted a video because I was tired and cranky. 162 00:13:21,243 --> 00:13:23,403 No, you're an activist. 163 00:13:23,483 --> 00:13:27,483 We are all activists now. They've forced us into this. 164 00:13:27,563 --> 00:13:29,963 Well, this may sound a bit strange, 165 00:13:30,043 --> 00:13:32,963 but I know Daniel Ek, okay? 166 00:13:33,043 --> 00:13:38,523 We grew up together, and I mean, I support you 100%, of course, 167 00:13:38,603 --> 00:13:41,683 but I posted the video because I wanted to start a dialogue. 168 00:13:41,763 --> 00:13:44,603 And regardless, I have to wait and see what he says. 169 00:13:46,443 --> 00:13:49,923 Oh… you haven't checked your Instagram today? 170 00:13:51,603 --> 00:13:54,003 He stopped following you this morning. 171 00:13:54,083 --> 00:13:57,363 Daniel is not interested in having a dialogue. 172 00:13:57,443 --> 00:13:59,283 None of them are. 173 00:13:59,363 --> 00:14:02,443 They want us to shut up, they want us to go away. 174 00:14:07,603 --> 00:14:12,363 Just so you know, there's another protest happening by headquarters. 175 00:14:13,643 --> 00:14:14,483 Okay. 176 00:14:17,163 --> 00:14:19,843 Daniel, would you mind looking at this? 177 00:14:19,923 --> 00:14:22,083 Yeah. What is this? 178 00:14:22,683 --> 00:14:24,883 It's a proposed sale of Spotify. 179 00:14:25,643 --> 00:14:28,523 I know that this isn't something you've considered before, 180 00:14:28,603 --> 00:14:33,203 but every CEO, every founder, has to choose their moment. 181 00:14:33,283 --> 00:14:36,963 -You've had an amazing journey. -No, I won't sell Spotify. 182 00:14:37,043 --> 00:14:40,883 You hired me to be somebody who's always straight with you and tells you the truth. 183 00:14:40,963 --> 00:14:43,923 And I'm doing that right now. The market is still in our favor. 184 00:14:44,003 --> 00:14:47,963 But what will you do when the market value drops below the IPO? 185 00:14:48,043 --> 00:14:53,803 I hired you because you're pragmatic and stubborn, but this is too much. 186 00:14:54,683 --> 00:14:57,603 Okay, and what do we do right now? 187 00:14:58,363 --> 00:14:59,643 We'll have to borrow some more money. 188 00:14:59,723 --> 00:15:03,203 Daniel, last year we already borrowed more than one billion dollars. 189 00:15:03,283 --> 00:15:05,763 We're gonna have to borrow some more and that's how we get through this. 190 00:15:05,843 --> 00:15:10,563 We'll do some more acquisitions, invest in some new tech, like we've always done. 191 00:15:10,643 --> 00:15:12,923 This is your way out. 192 00:15:13,003 --> 00:15:15,443 If you sell Spotify, you protect your legacy. 193 00:15:15,523 --> 00:15:18,803 You also protect your brand, you protect what you've built-- 194 00:15:18,883 --> 00:15:21,083 I won't sell Spotify, I… 195 00:15:24,843 --> 00:15:26,483 I'm not retiring yet. 196 00:15:26,563 --> 00:15:28,723 -Daniel… -What? 197 00:15:33,003 --> 00:15:36,723 Scratch the Record! Scratch the Record! 198 00:15:36,803 --> 00:15:38,403 Whoa! 199 00:15:38,483 --> 00:15:41,923 Okay, hold your heads down. Security is here. 200 00:15:42,003 --> 00:15:45,723 Shit! 201 00:15:59,363 --> 00:16:05,083 Scratch the Record! Scratch the Record! 202 00:16:05,163 --> 00:16:07,483 -Daniel, this is outrageous! -Yeah, I know. 203 00:16:07,563 --> 00:16:09,763 -Just relax, okay? -Relax? 204 00:16:09,843 --> 00:16:12,523 The business model that we have, it's fine. 205 00:16:12,603 --> 00:16:16,603 We have new content, we'll give them more support and soon we'll have Discovery Max. 206 00:16:16,683 --> 00:16:18,403 There's no reason to panic. 207 00:16:21,323 --> 00:16:23,843 No, I'm not here as Daniel Ek's enemy. 208 00:16:23,923 --> 00:16:26,363 I'm here as someone who used to know him, 209 00:16:26,443 --> 00:16:30,403 and who believed in the promises he gave me and other musicians. 210 00:16:30,483 --> 00:16:31,603 Scratch the record! 211 00:16:31,683 --> 00:16:35,483 I'm here today to say that enough is enough. 212 00:16:35,563 --> 00:16:38,243 I have told my colleagues to be patient. 213 00:16:38,323 --> 00:16:40,843 I've tried to believe in him. 214 00:16:40,923 --> 00:16:45,483 But the average salary for an employee at Spotify is 130,000 dollars, 215 00:16:45,563 --> 00:16:49,163 while the musicians who build his platform are on their knees. 216 00:16:50,363 --> 00:16:55,563 Daniel Ek, it's time for you to "Scratch the Record". 217 00:16:55,643 --> 00:17:01,283 It's time for you to sit down and talk to us, for real this time. We're waiting 218 00:17:01,963 --> 00:17:03,603 -Unbelievable. -Yeah. 219 00:17:03,683 --> 00:17:06,163 This pantomime is distracting the whole office. It's a public disturbance. 220 00:17:06,243 --> 00:17:08,843 -We should call the police now. -We can't call the police. 221 00:17:08,923 --> 00:17:13,083 This is a platform for musicians. How will it look like if they're arrested 222 00:17:13,163 --> 00:17:14,643 -outside our office? -Exactly. 223 00:17:14,723 --> 00:17:17,963 Well, it looks like the police decided to turn up anyway. 224 00:17:21,483 --> 00:17:25,163 This is illegal demonstration. You're disturbing the peace… 225 00:17:25,243 --> 00:17:26,643 -and we ask you to leave immediately. -Shit. 226 00:17:27,763 --> 00:17:30,283 Scratch the Record! 227 00:17:31,323 --> 00:17:33,283 Let her go! 228 00:17:33,363 --> 00:17:39,123 -Don't hold me! -You're disturbing, please discard now! 229 00:17:39,203 --> 00:17:44,723 I repeat, this is an illegal, demonstration. You're disturbing the peace 230 00:17:44,803 --> 00:17:48,243 and we ask you to leave immediately. 231 00:17:48,323 --> 00:17:51,803 Anyone who remains on this premises will 232 00:17:51,883 --> 00:17:54,723 will be arrested. 233 00:17:59,563 --> 00:18:01,083 This is bad, Daniel. 234 00:18:05,123 --> 00:18:07,283 I think it's a story just because it's in Sweden. 235 00:18:08,043 --> 00:18:10,163 We shouldn't forget that we are listed in New York. 236 00:18:10,243 --> 00:18:12,643 We have more Chinese shareholders than Swedish ones. 237 00:18:12,723 --> 00:18:16,403 But this may affect your ability to borrow more money. You know what? 238 00:18:16,483 --> 00:18:18,923 I'm working myself to death, I run from bank to bank. 239 00:18:19,003 --> 00:18:21,403 And you know what the first thing is they ask about? 240 00:18:22,003 --> 00:18:23,563 These protests. 241 00:18:24,683 --> 00:18:28,203 Daniel… you made it clear that you don't want to sell Spotify. 242 00:18:28,283 --> 00:18:31,803 You want me to find more money that will enable new innovations. 243 00:18:32,443 --> 00:18:36,203 Okay. Well in that case, you will have to make sure this doesn't get any bigger. 244 00:18:38,243 --> 00:18:41,323 One thing that I've learned during my in politics… 245 00:18:41,403 --> 00:18:43,723 "Never let yourself become the story." 246 00:18:59,803 --> 00:19:02,403 -Do you want to play with us, Papa? -Yeah, maybe later. 247 00:19:06,363 --> 00:19:07,323 Hi. 248 00:19:08,723 --> 00:19:09,803 You okay? 249 00:19:12,323 --> 00:19:13,523 You're everywhere, Daniel. 250 00:19:15,123 --> 00:19:17,483 These protests, they're not gonna die down. 251 00:19:17,563 --> 00:19:22,603 All those… sorry… those damn protesters who say that Spotify needs to change, 252 00:19:22,683 --> 00:19:26,483 -I don't even understand they mean. -Are these the new designs? 253 00:19:27,723 --> 00:19:29,443 -Yeah. -Mm. 254 00:19:29,523 --> 00:19:30,763 About this, erh… 255 00:19:31,563 --> 00:19:36,403 Ernst was a bit worried that you might think it's a bit too big. 256 00:19:36,483 --> 00:19:37,763 Don't compromise. 257 00:19:38,363 --> 00:19:40,243 I think we should make it even bigger. 258 00:19:47,323 --> 00:19:49,803 Hello. Did you get hold of Sundin? 259 00:19:52,203 --> 00:19:55,203 Okay, tell that traitor that I'm on my way. 260 00:19:56,403 --> 00:19:58,083 -Hey. -Hey yourself! 261 00:19:58,163 --> 00:19:59,723 How are you? Nice to see you. 262 00:19:59,803 --> 00:20:03,203 -It's nice to see you too.. -So, you okay? 263 00:20:03,283 --> 00:20:07,003 -Yeah, well… I'm alive. -Yes, I know. 264 00:20:07,083 --> 00:20:11,523 Discovery Max looked… I saw some test results. They were… 265 00:20:11,603 --> 00:20:14,483 Here is the deal. I need you to do something. 266 00:20:14,563 --> 00:20:15,923 Okay… 267 00:20:16,003 --> 00:20:18,923 I want you to call Bobbi Thomasson. 268 00:20:19,843 --> 00:20:22,923 I want you to explain to her that this thing she's doing can only be 269 00:20:23,003 --> 00:20:24,483 detrimental. 270 00:20:24,563 --> 00:20:28,163 That it's based on a complete misunderstanding of how Spotify works. 271 00:20:28,243 --> 00:20:33,163 I don't think I've seen Bobbi in about ten years. 272 00:20:33,243 --> 00:20:36,203 I can try to get her contact information and then you-- 273 00:20:36,283 --> 00:20:39,043 Hold on. Did you say try? 274 00:20:39,123 --> 00:20:41,683 -Yes, I can try to get hold of… -She was your performer. 275 00:20:41,763 --> 00:20:44,243 You were the one who signed her. You promoted her. 276 00:20:45,483 --> 00:20:47,923 -You can contact her. -No, I can't. 277 00:20:55,363 --> 00:20:56,483 I know what's going on. 278 00:20:58,283 --> 00:21:00,683 You use these people, sign them, use them for money, 279 00:21:00,763 --> 00:21:03,043 and then when you are finished, you forget them. 280 00:21:03,123 --> 00:21:05,523 When Bobbi is upset about what she earns, 281 00:21:06,323 --> 00:21:08,923 does she turn to a Universal or a BMG? 282 00:21:09,003 --> 00:21:13,283 Does she turn to any of the people who are responsible for what she earns? 283 00:21:13,363 --> 00:21:19,923 No, she and her stupid, fucking friends of hers set up camp outside my office, 284 00:21:20,003 --> 00:21:22,123 throwing all their fucking shit at me. 285 00:21:22,203 --> 00:21:24,603 Did I sign her? Did I encourage her? 286 00:21:24,683 --> 00:21:29,763 Did I encourage any of these over millions of people who live in that fantasy 287 00:21:29,843 --> 00:21:33,563 that you have sold them, that they might be the next Drake or Taylor Swift, 288 00:21:33,643 --> 00:21:38,083 getting them to sign shameless contracts they are too young to understand. 289 00:21:38,603 --> 00:21:39,443 But who do they hold responsible? 290 00:21:40,403 --> 00:21:42,603 Let me give you an answer, me! 291 00:21:44,243 --> 00:21:46,923 But you don't care! Of course not! Why would you? 292 00:21:47,003 --> 00:21:51,243 You and the record companies got what you wanted, 70% of what we make. 293 00:21:51,323 --> 00:21:52,843 Yeah, you got a really good deal there. 294 00:21:53,523 --> 00:21:56,963 And I'm the stupid bastard who fucking agreed to it all. 295 00:22:04,123 --> 00:22:06,043 It's gonna be a while. 296 00:22:31,203 --> 00:22:33,203 RESTAURANT 297 00:23:01,123 --> 00:23:02,843 At a bar in Rågsved? 298 00:23:02,923 --> 00:23:04,203 Uhm mh. 299 00:23:05,403 --> 00:23:08,003 -Why are you here, Daniel? -I think we should talk. 300 00:23:08,083 --> 00:23:10,283 Now? When I have a gig? 301 00:23:13,123 --> 00:23:18,003 I don't care whether other people protest. But you, Bobbi, you know me. 302 00:23:19,043 --> 00:23:22,403 That's why I joined them. If you don't know someone, you won't listen. 303 00:23:22,483 --> 00:23:24,563 But what is it you want me to listen to? 304 00:23:24,643 --> 00:23:26,883 A bunch of people who refuse to accept the world has changed? 305 00:23:26,963 --> 00:23:31,163 That's not true, it hasn't changed at all. It's like a fucking bad dream. 306 00:23:32,323 --> 00:23:36,603 Maybe you haven't understood how to make the most of Spotify. 307 00:23:36,683 --> 00:23:40,163 -Please, don't do this. -Listen to me. I just wanted to say… 308 00:23:40,243 --> 00:23:45,723 If you let me… I will show you how to make the most of Spotify. 309 00:23:45,803 --> 00:23:50,683 And then? Are you going to pay a visit to the other 1.5 million performers and what? 310 00:23:50,763 --> 00:23:52,883 -Tell them all your secrets as well? -You remember how it was? 311 00:23:52,963 --> 00:23:56,043 You told me that Pirate Bay uploaded all of your songs. 312 00:23:56,123 --> 00:24:00,843 So we should be grateful that they aren't stealing from us like 15 years ago? 313 00:24:00,923 --> 00:24:03,083 No, that's not what I mean. Come on. 314 00:24:03,163 --> 00:24:05,163 You're talking about your journey… 315 00:24:06,283 --> 00:24:08,003 But what about our journey? 316 00:24:08,083 --> 00:24:13,123 All the millions of musicians who have absolutely no control of money they earn. 317 00:24:13,203 --> 00:24:15,603 It can't be my responsibility to help the careers of all the artists. 318 00:24:15,683 --> 00:24:20,483 Why not? You are the most powerful person in the music industry right now. 319 00:24:21,243 --> 00:24:24,243 You are the system and that's what you wanted. 320 00:24:25,243 --> 00:24:29,283 You wanted to create the biggest music platform in the world. 321 00:24:30,083 --> 00:24:32,803 -Bobbi, it's time. -Okay. 322 00:24:34,403 --> 00:24:37,603 -Nice place… -Bulshit. 323 00:24:37,683 --> 00:24:40,843 My point is, you don't actually want to help us. 324 00:24:43,203 --> 00:24:44,483 Bobbi, I do want to help you. 325 00:24:45,803 --> 00:24:46,883 Bobbi, come on. 326 00:24:47,843 --> 00:24:49,643 Okay, yeah. 327 00:28:45,683 --> 00:28:48,043 Thank you for staying for the whole gig. 328 00:28:50,483 --> 00:28:51,323 What's wrong? 329 00:28:56,203 --> 00:29:00,523 I understand that you want me to… to change Spotify. 330 00:29:02,283 --> 00:29:05,443 But the changes that you want me to make, 331 00:29:05,523 --> 00:29:07,043 would destroy us. 332 00:29:07,123 --> 00:29:08,763 It doesn't have to be that way. 333 00:29:11,763 --> 00:29:13,283 You have your songs, Bobbi. 334 00:29:14,203 --> 00:29:18,483 Your music… That's what Spotify is to me. 335 00:29:20,003 --> 00:29:21,883 Everything I am is a part of that. 336 00:29:25,683 --> 00:29:28,443 And it doesn't matter what you say, 337 00:29:29,243 --> 00:29:32,403 I will never let anyone take that away from me. 338 00:30:15,483 --> 00:30:16,803 Scratch the Record. 339 00:30:24,683 --> 00:30:27,963 A movement called 'Scratch The Record' 340 00:30:28,043 --> 00:30:30,283 is now spreading around the world. 341 00:30:30,363 --> 00:30:32,563 The Swedish artist named Bobbi Thomasson... 342 00:30:32,643 --> 00:30:35,283 BREAKING - PROTESTS ACROSS EUROPE THOUSANDS OF MUSICIANS MARCHING 343 00:30:35,363 --> 00:30:37,123 THE BIGGEST REUNION OF MUSICIANS AND FANS TO THIS DAY IN PARIS 344 00:30:37,203 --> 00:30:40,003 Protest against Spotify… 345 00:30:45,003 --> 00:30:47,483 SCRATCH THE RECORD SPOKESWOMAN BOBBI THOMANSSON HAS RISEN SUPERNOVA FAME 346 00:30:47,563 --> 00:30:53,643 Scratch the record. 347 00:31:08,123 --> 00:31:09,923 This is bullshit. 348 00:31:10,003 --> 00:31:12,763 You know they only reason they brought us here is to humiliate us. 349 00:31:12,843 --> 00:31:14,723 It's the US Senate Daniel, they're meant to humiliate us. 350 00:31:14,803 --> 00:31:16,923 But I'm not supposed to be here. I'm not American citizen. 351 00:31:17,003 --> 00:31:18,923 Daniel, you've got this. 352 00:31:20,443 --> 00:31:23,043 You know what it is? It's theater. 353 00:31:23,123 --> 00:31:25,203 You're the CEO, Daniel. 354 00:31:25,283 --> 00:31:26,923 You run the company. 355 00:31:27,003 --> 00:31:30,003 If we lose this argument in front of the committee, 356 00:31:30,083 --> 00:31:34,803 our whole business could be screwed, so please, just don't resist. 357 00:31:35,643 --> 00:31:41,083 Yeah? Focus. Stay cool and calmly answer everything they throw at you. 358 00:31:45,843 --> 00:31:48,123 We're here. 359 00:31:50,683 --> 00:31:52,443 What kind of power do they really have? 360 00:31:52,523 --> 00:31:54,923 The kind of power that can recommend a fixed price of a stream, 361 00:31:55,003 --> 00:31:58,003 regulate everything and completely destroy our business model. 362 00:31:58,083 --> 00:32:02,203 You have to focus on the Senator Landy. This is her hearing. She pushed for it. 363 00:32:02,283 --> 00:32:04,403 She's staked everything on this. Do not let her win. 364 00:32:04,483 --> 00:32:05,323 Daniel? 365 00:32:06,563 --> 00:32:07,963 Okay. 366 00:32:11,203 --> 00:32:14,203 What the fuck is she doing here? 367 00:32:14,283 --> 00:32:16,123 Forget about her. She's irrelevant. 368 00:32:16,203 --> 00:32:18,843 She's here as a representative or some shit. Whatever, who cares? 369 00:32:20,363 --> 00:32:21,763 You have to shut Lanley down. 370 00:32:21,843 --> 00:32:23,043 What about the everyone else? 371 00:32:23,123 --> 00:32:26,963 Keep them engaged. As long as they make eye contact with you, we're good. 372 00:32:27,043 --> 00:32:29,963 As soon as they start avoiding your gaze, we're fucked. And Daniel… 373 00:32:31,163 --> 00:32:32,203 you can do this. 374 00:32:32,923 --> 00:32:35,883 Do you swear to tell the truth, the whole truth and nothing but the truth, 375 00:32:35,963 --> 00:32:37,283 -so help you God? -I do. 376 00:32:47,283 --> 00:32:49,643 Could you please identify yourself for the committee? 377 00:32:50,763 --> 00:32:54,363 My name is Daniel Ek and I'm the CEO and co-founder of Spotify. 378 00:32:54,443 --> 00:32:59,443 Mr. Ek, you previously described Spotify's mission as 379 00:32:59,523 --> 00:33:03,083 "To unlock the potential of human creativity 380 00:33:03,163 --> 00:33:08,603 by giving a million artists the opportunity to live off their art." 381 00:33:08,683 --> 00:33:09,683 Yes. 382 00:33:10,283 --> 00:33:12,243 How is your progress towards that? 383 00:33:12,323 --> 00:33:16,923 Excellent. Our top tier club of artistes who can support themselves from streams 384 00:33:17,003 --> 00:33:20,803 has doubled in the last three years and tripled since 2015. 385 00:33:21,443 --> 00:33:22,923 That's impressive… 386 00:33:23,003 --> 00:33:26,363 So, at your current rate of growth, 387 00:33:26,443 --> 00:33:31,123 you would hit that one million figure in… just under 75 years? 388 00:33:34,843 --> 00:33:38,323 Your business model just doesn't work for musicians, does it? 389 00:33:38,403 --> 00:33:39,843 That's not true. 390 00:33:39,923 --> 00:33:44,043 What are the average earnings of an artiste not in your top tier? 391 00:33:44,723 --> 00:33:47,603 Well, the number of artistes changes so fast for us to know. 392 00:33:47,683 --> 00:33:52,083 Mr. Ek, from your own data, I can see here that the figure is… 393 00:33:52,163 --> 00:33:54,003 12 dollars a month. 394 00:33:55,803 --> 00:33:58,883 -Could you live off that? -Well, that number is not verified. 395 00:33:58,963 --> 00:34:00,883 It's taken from your own results. 396 00:34:01,683 --> 00:34:04,683 Excuse me, Madam Chairwoman. Mr. Ek… 397 00:34:05,643 --> 00:34:09,523 Isn't it the case that Spotify is just one platform among many? 398 00:34:09,603 --> 00:34:12,483 Yes, that is correct. Spotify is one platform among many, 399 00:34:12,563 --> 00:34:15,323 and artistes have several platforms to earn an income from. 400 00:34:15,403 --> 00:34:18,563 It's not fair to put all that on Spotify. 401 00:34:19,203 --> 00:34:22,523 What percentage of the streaming market does Spotify control? 402 00:34:22,603 --> 00:34:24,483 I believe it's around 25%, Senator. 403 00:34:24,563 --> 00:34:28,523 You control almost 45% of the US market alone. 404 00:34:28,603 --> 00:34:32,203 In some countries, your share is as high as 60%. 405 00:34:32,803 --> 00:34:36,883 Five times as many users as your nearest rival. 406 00:34:37,683 --> 00:34:41,043 To all intents and purposes, you are a monopoly. 407 00:34:41,763 --> 00:34:42,683 We are not a monopoly. 408 00:34:42,763 --> 00:34:45,963 No artiste can take themselves off your platform, 409 00:34:46,043 --> 00:34:49,803 no artiste can risk losing exposure to your audience. 410 00:34:49,883 --> 00:34:55,123 You control streaming and you control the fate of musicians. 411 00:34:57,723 --> 00:35:01,563 Oh I'm sorry, Senator. Was there a question in there, or…? 412 00:35:05,043 --> 00:35:10,443 Do you believe the size of your business model creates a problem for artistes? 413 00:35:10,523 --> 00:35:14,323 Spotify is about partnering with the artiste, 414 00:35:14,403 --> 00:35:18,163 In building the music industry with them, they create a future together. 415 00:35:18,243 --> 00:35:21,723 When the Copyright Royalty Board awarded songwriters 416 00:35:21,803 --> 00:35:26,923 their first raise in almost 50 years, how did Spotify react? 417 00:35:28,963 --> 00:35:31,563 -We sought clarification. -You sought clarification? 418 00:35:32,363 --> 00:35:35,923 You took them to court. You lodged an appeal against them, 419 00:35:36,003 --> 00:35:40,203 and you got lawyers to argue for a cut in what they're paid. 420 00:35:40,283 --> 00:35:43,723 Does that sound like a company that supports artistes? 421 00:35:43,803 --> 00:35:46,363 It sounds like a company that has its own approach, 422 00:35:46,443 --> 00:35:48,523 but we support songwriters. 423 00:35:48,603 --> 00:35:51,883 We partner with them, we champion them. 424 00:35:51,963 --> 00:35:57,283 You use your size and marketing budget to silence your critics, Mr. Ek. 425 00:35:57,363 --> 00:36:01,843 At every opportunity, you do everything you can to drive down 426 00:36:01,923 --> 00:36:04,443 the share you pay musicians. 427 00:36:05,163 --> 00:36:08,323 Don't you think you have a responsibility to these people? 428 00:36:08,403 --> 00:36:11,283 I believe that musicians need to understand 429 00:36:11,363 --> 00:36:13,163 that I'm the best friend they've got. 430 00:36:13,243 --> 00:36:15,203 I'm the only one who's not lying to them. 431 00:36:15,283 --> 00:36:18,443 I'm the only one who's honest about the fact that we can't go back, 432 00:36:18,523 --> 00:36:23,363 that this is a completely new industry with new rules and new principles. 433 00:36:23,443 --> 00:36:26,283 I'm the one working day and night to create the opportunities 434 00:36:26,363 --> 00:36:28,323 that they need to achieve their dreams. 435 00:36:33,243 --> 00:36:35,123 What is Discovery Max? 436 00:36:40,283 --> 00:36:42,603 Discovery Max is a perfect example. 437 00:36:42,683 --> 00:36:44,883 It's a service that helps artistes. 438 00:36:44,963 --> 00:36:46,923 Discovery Max is a service, 439 00:36:47,003 --> 00:36:50,883 in which you take a bigger share of the artist's royalty, 440 00:36:50,963 --> 00:36:54,163 and in return offer them extra promotion. 441 00:36:54,243 --> 00:36:58,563 Well, Discovery Max is an exchange between Spotify and the artiste. 442 00:36:58,643 --> 00:37:02,923 It is straight up music industry payola, and it has to stop. 443 00:37:03,003 --> 00:37:04,883 You're splitting hairs, Mr. Ek. 444 00:37:04,963 --> 00:37:08,523 You reduce the artist's royalty and in return you fix the game. 445 00:37:08,603 --> 00:37:10,363 We're not fixing anything. 446 00:37:10,443 --> 00:37:15,243 The major record companies own almost 20% of Spotify, don't they? 447 00:37:15,323 --> 00:37:18,923 It's possible. That's… It's around that number, yes. 448 00:37:19,003 --> 00:37:22,523 So, the musicians are on the labels, 449 00:37:22,603 --> 00:37:28,243 the labels own part of Spotify, Spotify decides which musicians get promoted, 450 00:37:28,323 --> 00:37:33,683 and then the income from the streams goes straight back to those labels. 451 00:37:33,763 --> 00:37:36,163 What part of that does not sound like a cartel? 452 00:37:38,603 --> 00:37:40,043 We're not a cartel. 453 00:37:40,123 --> 00:37:41,403 You control the market. 454 00:37:42,003 --> 00:37:44,363 You're in bed with your suppliers. 455 00:37:44,443 --> 00:37:48,923 And then, at every turn, you use your reach and your technology 456 00:37:49,003 --> 00:37:51,443 to drive down the share that you pay musicians, 457 00:37:52,043 --> 00:37:56,003 to pay the people that depend on you and your platform to make a living wage. 458 00:37:56,083 --> 00:37:59,363 Can you seriously sit there and tell me that in any other part of the world, 459 00:37:59,443 --> 00:38:01,403 this would be considered acceptable? 460 00:38:04,843 --> 00:38:08,723 There's a lot of negative comments. The word cartel seem to resonate. 461 00:38:08,803 --> 00:38:10,923 It's a few voices on social media, It's nothing to… 462 00:38:13,803 --> 00:38:17,083 Let's just hope they put her under the kind of pressure they put you under. 463 00:38:22,443 --> 00:38:25,763 Would you please identify yourself for the committee? 464 00:38:26,403 --> 00:38:28,243 My name is Bobbi Thomasson. 465 00:38:28,323 --> 00:38:30,283 I'm a musician, but I'm here today 466 00:38:30,363 --> 00:38:34,803 as the US and global head of a musicians group called "Scratch the Record". 467 00:38:34,883 --> 00:38:37,163 That's a musicians' advocacy group? 468 00:38:37,243 --> 00:38:38,723 Yes, that's correct. 469 00:38:38,803 --> 00:38:40,123 And what are you advocating? 470 00:38:41,363 --> 00:38:44,603 When our music is used, when it's streamed, 471 00:38:44,683 --> 00:38:49,443 we argue that musicians deserve to be paid a fixed price per stream. 472 00:38:50,723 --> 00:38:53,563 And we want that to be recognized in law. 473 00:38:53,643 --> 00:38:57,523 We would all like to get paid more, but that doesn't mean we can change the law. 474 00:38:57,603 --> 00:38:59,443 ] 475 00:39:00,483 --> 00:39:03,283 Musicians have lobbied streamers for a decent cut, 476 00:39:03,363 --> 00:39:06,683 but all we ever get are words. We need a law. 477 00:39:07,923 --> 00:39:11,443 In every generation, there are winners and losers. 478 00:39:11,523 --> 00:39:13,923 And people say that's just how it is. 479 00:39:14,003 --> 00:39:17,003 But this Senate has always been able to tell the difference 480 00:39:17,083 --> 00:39:19,643 between change and exploitation. 481 00:39:20,923 --> 00:39:23,323 Miss Thomasson, with all respect, 482 00:39:23,403 --> 00:39:28,843 you're not a front line worker, you're a musician and you chose to do that. 483 00:39:28,923 --> 00:39:32,243 So you want musicians to accept that music is precious, 484 00:39:32,323 --> 00:39:33,963 but they're interchangeable? 485 00:39:34,043 --> 00:39:36,563 -That's not what I said. -It is what you said. 486 00:39:36,643 --> 00:39:38,843 It's what everybody always says. 487 00:39:38,923 --> 00:39:40,723 But if you want to enjoy something, 488 00:39:40,803 --> 00:39:44,163 you have no right to ignore the conditions it was made in. 489 00:39:44,243 --> 00:39:46,643 Spotify is… It's just a platform. 490 00:39:47,883 --> 00:39:52,043 Spotify churns out a product to millions of phones and laptops, 491 00:39:52,123 --> 00:39:53,603 like a factory, 492 00:39:53,683 --> 00:39:56,963 and the workers that supply that product are musicians. 493 00:39:57,043 --> 00:40:00,803 Spotify is always telling us how grateful we should be for that exposure, 494 00:40:00,883 --> 00:40:05,123 but I'm here to say that you can't pay the bills with likes. 495 00:40:05,203 --> 00:40:07,643 We don't care how many analytics you build, 496 00:40:07,723 --> 00:40:09,363 how many different ways you tell us 497 00:40:09,443 --> 00:40:12,203 we have more listeners in Boston than Stockholm. 498 00:40:13,083 --> 00:40:16,883 When our work is used, we want to get paid. 499 00:40:16,963 --> 00:40:19,163 Why is that this Senate's business? 500 00:40:19,243 --> 00:40:22,643 Why is that not for the market? Or for the consumer? 501 00:40:22,723 --> 00:40:24,923 Because, in 1938, 502 00:40:25,003 --> 00:40:29,163 this was the Senate that introduced a statuary minimum wage for the employees 503 00:40:29,243 --> 00:40:32,003 of the new steel and oil industries. 504 00:40:32,083 --> 00:40:34,083 Senators saw that the world had changed. 505 00:40:35,203 --> 00:40:37,043 A new law was needed. 506 00:40:38,163 --> 00:40:41,083 That minimum wage looks obvious now. 507 00:40:41,163 --> 00:40:42,563 But the bosses fought it. 508 00:40:43,483 --> 00:40:48,523 Law makers had to see that the oil companies simply had too much power. 509 00:40:48,603 --> 00:40:51,523 That is exactly where we are today. 510 00:40:51,603 --> 00:40:54,483 This is about the big monopolies of today. 511 00:40:55,323 --> 00:40:58,643 It's about whether we have the courage to see that musicians 512 00:40:58,723 --> 00:41:02,203 are no different to oil and steel workers. 513 00:41:02,963 --> 00:41:05,203 We deserve the same rights… 514 00:41:06,003 --> 00:41:08,363 the same recognition… 515 00:41:08,443 --> 00:41:10,523 and until we acknowledge that, 516 00:41:10,603 --> 00:41:14,203 streaming will always be exploitation. 517 00:41:17,563 --> 00:41:19,723 Bullshit. Exploitation? The law? 518 00:41:19,803 --> 00:41:21,363 Who the fuck does she think she is? 519 00:41:21,443 --> 00:41:24,283 She's someone who knows she's got the support of several senators. 520 00:41:24,363 --> 00:41:26,883 So what if she does? So do we. We have… 521 00:41:26,963 --> 00:41:30,923 Lobbyists. We have influence. Do not go and talk to her, Daniel. 522 00:41:31,003 --> 00:41:35,643 I can't just ignore her anymore. Just… stay calm. 523 00:41:48,523 --> 00:41:49,603 Hmm 524 00:41:51,523 --> 00:41:52,403 Hey. 525 00:41:54,123 --> 00:41:55,043 Hey. 526 00:42:00,043 --> 00:42:04,283 Well, that was… You were impressive. 527 00:42:04,963 --> 00:42:08,003 -I know you don't mean that. -I do, unfortunately yeah. 528 00:42:08,723 --> 00:42:10,283 I'm just the messenger. 529 00:42:11,203 --> 00:42:14,003 But the message, Bobbi, you can't be serious. 530 00:42:14,083 --> 00:42:15,683 Exploitation? 531 00:42:15,763 --> 00:42:17,923 You compared Spotify to an oil company. 532 00:42:18,003 --> 00:42:20,283 I remember what you said at the start… 533 00:42:21,203 --> 00:42:24,723 I remember your promise that everybody would benefit from Spotify. 534 00:42:27,923 --> 00:42:29,043 Think about that. 535 00:42:35,643 --> 00:42:37,723 -Daniel. -Yeah? 536 00:42:37,803 --> 00:42:39,843 -It's done. -What's done? 537 00:42:39,923 --> 00:42:42,763 I just spoke to the bank and they agreed. 538 00:42:42,843 --> 00:42:45,963 Another billion. You got the loan. 539 00:42:47,563 --> 00:42:48,763 Okay… 540 00:42:52,883 --> 00:42:54,563 What do we do about all this? 541 00:42:54,643 --> 00:42:59,843 Do you think the bank cares about what a bunch of activists or senators think? 542 00:43:00,523 --> 00:43:04,763 In all this chaos they heard only one thing: 45%. 543 00:43:05,443 --> 00:43:07,923 You control the market. That's all they care about. 544 00:43:10,003 --> 00:43:12,003 Uhm. What do you think? 545 00:43:12,923 --> 00:43:15,563 Maybe you're right. 546 00:43:15,643 --> 00:43:19,843 I might have been in politics for long. 547 00:43:21,123 --> 00:43:24,443 But listen… This is the last loan we can take out. 548 00:43:24,523 --> 00:43:26,483 You have to figure out the business model. 549 00:43:26,563 --> 00:43:29,083 If you can't do that, do not take the money. 550 00:43:31,643 --> 00:43:32,803 Thanks. 551 00:43:34,523 --> 00:43:35,563 Are you all okay? 552 00:43:37,443 --> 00:43:38,843 Do you know where Bobbi went? 553 00:43:39,643 --> 00:43:40,523 Mmm-hmm. 554 00:44:03,283 --> 00:44:05,603 You know what I regret most about Spotify? 555 00:44:07,003 --> 00:44:09,803 That I didn't walk out on the negotiations. 556 00:44:10,803 --> 00:44:16,043 When you're sitting there in the first talks about the music rights… 557 00:44:17,003 --> 00:44:20,203 I should have said that, "This is the future. 558 00:44:21,403 --> 00:44:24,443 If you want to be a part of it, it has to be on our terms." 559 00:44:25,563 --> 00:44:27,763 That would have been so damn beautiful. 560 00:44:28,563 --> 00:44:32,083 So what you're saying is that everything would have been better… 561 00:44:32,163 --> 00:44:34,603 if you'd stopped listening to people? 562 00:44:38,843 --> 00:44:39,883 Yeah. 563 00:45:03,283 --> 00:45:07,203 That was the last shot for me and you too, guys! 564 00:46:58,003 --> 00:47:00,923 Subtitle Translation by: Adefoluke Adebayo