Musically adds to this and UMG says: “I must remind you, 11 or 12 years ago, no one had heard of Spotify in the United States...". If you know the story of #Spotify it is quite interesting to know how this "breakthrough" had happened.
#MusicBusiness #majorlabels #independent #indie #Music

This letter seems very logical from #majorlabels point of view. Every corporation needs to grow at YTD sales and profit rate each year. And as soon as something starts to change then the #MusicBusiness model requires a change again...for the sake of competition.