However, after less than a year, the company decided to shutter the project. 2018, Spotify introduced a private feature that would allow artists to bypass the labels and instead upload their music directly to Spotify. Here's why DistroKid could be a massive game-changer for not only Spotify but the music industry at large. But there's one small company that's pioneering change, and Spotify owns a minority stake in it. However, since 2016, Spotify ( SPOT 1.52%) and other streaming services have helped return the industry to growth once again.
From 1999 to 2015, revenue across the entire music industry was in a steady state of decline.
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