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Who is ‘Spotify Music Pro’ Really For? Trapital · Episode

We talked about this Spotify Music Pro tier in depth in our latest episode of Trapital.

We had A LOT to say about it. open.spotify.com/episode/20md...

Music streaming is a very inexpensive product. But is 'Music Pro' what superfans really want?

If the end goal is to add more value and charge more, are there better ways to achieve that?

The record labels have been eager to find ways for music lovers to pay more for music.

They see Netflix's $25 per month premium tier, (more than double Spotify's $12 per month in the U.S.) and want similar.

Spotify is exploring a 'Music Pro' tier at $18 per month with access to concert presales, remixing songs, and high quality audio.

But let's be honest. Who is this product for?

Kendrick Lamar's streams are up ~200% since the Super Bowl but if you do the math, that bump will generate a few hundred thousand dollars.

The bigger bump in pay is when the artist goes on tour.

“What did you think of Kendrick’s halftime show?” is a Rorschach test.

4. The impact of relationships

Rihanna once declined the halftime show after the Kaepernick’s protest. But time has passed, and then it was Jay Z asking her to perform.

He signed her to Def Jam, Roc Nation, and made hit songs with her. It’s a different conversation.

3. There is more representation from genres and races

The halftime show had never lead with hip-hop as the primary acts. Now it has been done twice. The stage is no longer solely reserved for legacy rock and pop acts.

2. Themed shows

Before Roc Nation, there were missed opportunities to celebrate a city’s music culture, like Atlanta in 2019. Or unusual pairings, like Katy Perry and Missy Elliott.

Since then, we’ve had J.Lo and Shakira in Miami for Latino culture. LA hip-hop, and Atlanta artists for Usher.

1. A better selection process for performers

Before Roc Nation, the NFL talked to 3-4 artists at once. Then they waited to hear who was interested, then made a choice, and sometimes combined them in awkward medleys.

It’s a quick way to get it done, but it's a quicker way to burn bridges!

For context, here are the six Roc Nation shows:

2020 - Jennifer Lopez and Shakira (Miami)
2021 - The Weeknd (Tampa)
2022 - Dr. Dre, Snoop Dogg, Eminem, Mary J. Blige, Kendrick Lamar, 50 Cent, Anderson .Paak (LA)
2023 - Rihanna (Phoenix)
2024 - Usher (Las Vegas)
2025 - Kendrick Lamar (New Orleans)

This is the sixth Super Bowl halftime show that Roc Nation helped manage.

Here are a few ways the company has improved the process:

Spotify’s Road to $100B and Profitability Trapital · Episode

A few weeks ago, we did a deep dive episode on Spotify and all the moves it made to get to this point. Listen here!

Spotify stock is up 28% in the past month. Its market cap is $120B.

$120B is higher than all three major record labels combined plus some of the larger indie labels.

The Atlantic Music Group strategy: put Bruno Mars in the booth.

Die With A Smile, APT , and Fat Juicy Wet. All in the past 5 months.

How the Podcast Mega Deals Evolved Trapital · Episode

On Trapital, we did a deep dive on the business of podcasting with Ashley Carman from Bloomberg News.

You can listen to us on Trapital here or wherever you get podcasts! open.spotify.com/episode/5jan...

As a podcast listener, you have your starting lineup, then you have your bench.

A new show in the rotation needs to be better than the existing shows in the lineup, even for a bench spot!

It's why SiriusXM, Spotify, and Wondery pay $100M+ to partner with popular shows.

Podcasts are one of the hardest mediums to grow. Discovery is tough, but that makes it more valuable.

Most listeners don't subscribe to hundreds of podcasts. It's not like social media.

They listen to 4-6 shows regularly, plus a handful of other shows on occasion.

My 2025 prediction:

A TikTok ban will not be enforced in the U.S. No major changes to operations. ByteDance will still own the platform.

Spotify’s Road to $100B and Profitability Trapital · Episode

You can listen to me and Sleepwell Capital break it down here or wherever you get podcasts: open.spotify.com/episode/4XE6...

But that only accounts for part of it.

For our first Trapital episode of the year, we discussed Spotify's road to $100 billion and profitability.

The smart moves, the controversial moves, its relationship with business partners, and its role in the future of streaming.

To be fair, some of Spotify’s growth tracked with many publicly-traded tech companies that experienced:

• Sky-high growth during COVID-19 lockdowns
• Growth decline once lockdowns ended and interest rates rose
• Cost-reducing layoffs which
• A bull run in 2024 (Nasdaq up nearly 30%)

Spotify went from a $14B market cap in late 2022 to $100B in late 2024. A lot has changed in two years!

We broke it down on our most recent episode of Trapital:

Beyonce Bowl. 10/10. No notes.

NFL isn’t just competing with NBA on Christmas. It’s also coming for MLK Day and President’s Day.

NFL now has playoff games on MLK, a big NBA Day

Some speculation that Super Bowl will move to the day before President’s Day for the long weekend.

NFL coming for every NBA corner.

Who are the big winners and losers of the year in music and entertainment?

We broke it down in five categories:

- streaming
- record label
- artist
- live music
- merger and acquisition

It’s our two-part holiday special on Trapital. Last episode of the year!

Recorded our last episode of the year!

What Superfans Really Want with SoundCloud CEO Eliah Seton - Trapital Summit Trapital · Episode

At our Trapital Summit, Eliah and I talked about the sale process, its product strategy, and more.

You can listen to this episode here: open.spotify.com/episode/3TAT...

In early 2024, it was announced that SoundCloud is up for sale. The company became profitable in 2023.

SoundCloud is privately owned. Principal shareholders include Raine, Temasek, SiriusXM, and USV.