Manatt’s Jordan Bromley, a partner in the firm’s music practice, was quoted by CNET for an article on Spotify’s upcoming initial public offering.
While Spotify competes for paying subscribers with other similar streaming services, it was the first—and the biggest—to popularize subscriptions among consumers. Bromley told the publication that the company’s pioneering approach lifted the music industry out of a decline that stretched back to the start of the millennium.
“If you’ve got to pull something out of the gutter, it’s going to cost a lot,” Bromley said.