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antage Do Curren X Currency Futures Definition X C Sign In or Sign Up Chogg X Paraphras CLOSING CASE Spotify and SoundCloud Numerous online music platforms exist today, with Apple Music, Google Play Musie. Pandora, Spotify. Sound Cloud, and YouTube as perhaps the mmon ways people listen to music online around the world. What's popular, of course, can change rapidly. Numerous other music platforms exist or have existed (eg. Stracks, Accu Radio, Dash Radio, Deezer, Grooveshark, Heart Radio, Incus Tunes, Jango, last.fm. Mixloud, MusixHub MySpace, RDIO, Slacker Radio, TuneIn Radio, The Sixty One, Xbox Music), and some of these will overtake the top platforms of today, some will be gone scon, and some already have very few users remaining. In this fierce com petitive technology environment. Swedish entrepreneurs have made an incredible mark on the music industry, It all begins really, with the countless start-ups that Sweden has produced. The focus of this case is Spotify and SoundCloud. However, to better understand the cre ution of companies and brands such as these. it's impor tant to know how a tiny country like Sweden with population of 10 million people and pretty high govern ment spending can be so innovative and entrepreneurial Given its size, it should come as no surprise that compa nies from Sweden rely on exports for much of their sales And the start-ups have become a cultural phenomenon in Sweden that have helped the economy grow in unimag- nable ways from just a couple of decades ago Stockholm, the capital city of Sweden, produces the second-highest number of billion-dollar tech companies per capita afer Silicon Valley. The change happened in the 1990s when Sweden needed a boost to its economy The country used to be heavily regulated and publie mo nopolies dominated the market, but regulations have been cused since that time. Interestingly, while Sweden was making it harder for monopolies to dominate the market the regulatory landscape in the US, was changed to favor big companies and established firms. Despite the global fascination with start-ups, only 8 percent of all firms in the U.S. meet that definition today, a remarkable drop from a few decades ago In Sweden, the trend has been reversed. The pace of new business creation start-ups has been accelerating Countries like Brazil, India, Romania, Germany, and Sin. gapore have also seen an increasing trend of start-ups in recent years. These start-ups are critical to a country's economy. They create jobs, spur innovation, and foster the entrepreneurial spirit that drives economic growth For example, in the United States, small and medium sized enterprises account for 98 percent of the country's exporters, and start-ups fall into this SME category (often as so-called "horn global-companies that start selling internationally early on aner inception). Spotify and SoundCloud fit all of these categories as start-ups-they were initially small went international carly on, and helped drive exporting members Sporty is a Swedish entertainment company founded in 2008 by Daniel Ek and Martin Lorentzon that special izes in music, podcast, and video streaming. Spotify Tech nology SA is headquartered in Stockholm and listed on the New York Stock Exchange SPOT The company has more than 1,000 employees, 200 million users and revenue of about $5 billion Spotify is available in most of Europe, the America Oceania and parts of Asia Spo tily gives users access to more than 30 million songs and has some 140 million active monthly users, with more than 70 million puine subscribers Seww was founded in 2007 in Stockholm, Sweden, by Alexander Lung and Erie Weltfors, who almost immediately developed a headquarters for the company in Berlin, Germany. In effect. Alexander Ljungand Ene Wahlfors used the great infrastructure for starin 494 Bporting, importing and Countertrade Chapter 16 495 June 2016: Alena Sem, "Why Does Sweden Hose So Many Start Upl" The A. September 28, 2018 "Spotily Makes Its Stock Market Debut The April 4, 2017: "Hai Merced Recorded Musle Spoily May Upend the Industry in the way II. 2018 and SoundCloud Streaming Homes in Os Create Uploaded Content CEO in April 2013 both Sweden and Germany to launch SoundCloud and build it into what it has now become a company with 300 employees, 40 million registered users, and 175 mil- lion monthly listeners. With a different focus than Spotify SoundCloud positioned itself as an online audio distribu- tion platform that enables users to upload, record. pro mote and share their originally created sounds. Both Spotify and SoundCloud are service businesses that have entered into the global marketplace with music platforms that customers find valuable. Service exports are an important and increasing trend in global trade Take, for example, the developed countries in the world most of whose economies around 75 percentare service bused. If these economies, like Sweden and Germany, did not find an opportunity to export their services, they would likely fall behind in the trade balance (imports ver sus exports). Interestingly, the U.S. has a relatively large trade surplus in services, but a massive trade deficit in manufactured goods. If the US. could reduce the deficit in products to have a neutral import-export ratio, the country's service economy would automatically create trade surplus-which the country has not seen for some 50 years. Given that a service export is really any service provided by a resident in one country to people or organi mations in another country, we know many countries can be successful or at least have the opportunity to export more services, such as what Sweden and Germany are doing with Spotify and SoundCloud Tapio M Thu, AO NAS Case Discussion Questions 1. Numerous online music platforms exist today, with Apple Music Google Play Musie. Pandora Spotify, SoundCloud, and YouTube as perhaps the most common ways people listen to music online around the world. Which one(s) do you use and why? Which ones) do you think will no longer be in operation in 10 years and why? 2. Based on what you can read in this case and what you are able to glean from researching Sweden, why do you think Stockholm, the capi: tally of Sweden, produces the second-highest number of billion dollar tech companies per capita, after Silicon Valley 3. What are the strengths and weaknesses of Spotify and SoundCloud, respectively? Do you think their business models will last, or will other innovative Ideas overtake the market power that Spotify and SoundCloud have in the interna- tional marketplace Design Modern VIPRESIONN She DODGE Allohen CM-Education Endnotes & BACH 495 of 715 Sonra