Record companies’ views on downloading music have been transformed thanks to the influence and consumer benefits of broadband. Universal Music Sweden’s Niklas Twetman explains why – and how the record label came to partner music streaming service Spotify.
Twetman, head of Business Development at Universal Music Sweden, says the ability to download music through the company’s partnership with Spotify, is changing its customer relationship business model from a transaction business (for products such as compact discs) to a subscription business.
“It turns out that that business is working very well,” he says.
Twetman also believes that other entertainment industries, vertical players and utilities - such as healthcare, transport and pharmaceuticals – can learn valuable lessons from the music sector.