How does Netflix print versus Spotify?

How Netflix and Spotify print

Subscriptions. Ads are a newer, smaller line. Content is the cost.

Premium subscriptions, then ads on the free tier. Labels take most of it.

Hover a slice

Netflix

Spotify

Cash in from the seat. Cash out to the show. The engineer keeps the stream up.

Pays: Subscribers. Advertisers on the ad tier.

Builds: Streaming, recommendations, studio tools. All-cash IC book.

A take-rate on listening. The product is the habit and the catalog deal.

Pays: Premium subscribers. Advertisers on free.

Builds: Personalization, platform, and the people who keep the rights working.