Music is a extremely profitable business industry, which generates a collective revenue of well over 15 billion dollars, annually (as of 2016, the music industry was generating a aggregate revenue of around $ 15.7 billion dollars per year, to be somewhat more precise). The majority of this money now comes from music streaming services and it is the CEOs and COOs of these services who are totally reshaping the face and methodology of the music industry as a business.
One of the first of the forward looking executives who has made a incredible splash within the music streaming world is none other than Stefan Blom who is most well known for his work as COO (Chief Content Officer) for the music streaming service, Spotify which has grown to become one of the largest such services on the market. One of the most impressive things Blom has been able to do for the company is to continuously increase their subscriber base, even whilst being in direct competition with other megalithic music services such as Amazon and Apple.
One of the least well known but possible most influential up-and-comer COO who is totally reshaping the way the music industry operates in Desiree Perez of Tidal. Tidal is a online streaming service owned by well known American rapper, Jay-Z that offers a bevvy of peculiar amenities to its users.
Under Ms. Perez’s guidance as acting COO of the company, it has grown tremendously and even recently partnered with Sprint which, in part, helped catapult Jay-Z’s newest album to the top of the music charts. One of the reasons for Ms. Perez’s impressive business savvy is due to the fact that she herself is a business owner and has many contacts with other huge names in the music world such as Rihanna, whom Perez helped negotiate a deal with Samsung, and Beyonce, for whom Perez organized the pop star’s lauded Formation tour.