This was a great Twitter post from @Li_x_Jiang, retweeted by @hnshah
This obviously speaks to free content and the popular “Freemium” business model, where a 2% conversion to paid services is a huge success….. 2%. That means it takes a million free users to get 20,000 paying customers. Silicon Valley may support those odds but it’s tough everywhere else.
Consider owning 15 – 20% of a much smaller universe. You do that by understanding your markets really well and solving specific problems for those customers in that market.
There are still a lot of people who pay for good music!