It&#x27;s not that the labels own Spotify -- it&#x27;s that by issuing limited-term licensing deals, and owning all of the music, they&#x27;ll be able to charge whatever they want for their music, leaving just a little bit on the table to keep Spotify in business. Spotify reports $100m in profit? Just raise licensing fees by $90m at the next contract. Spotify won&#x27;t have the leverage to walk away.<p>Similar to Netflix, Spotify will need to create some reason for consumers to stay with Spotify, likely with some kind of music or music experience that is Spotify-exclusive like Netflix-exclusive TV shows. Also, Spotify has invested a lot of effort into its curated playlists -- this is an attempt to get people to listen to Spotify the way they watch Netflix -- fire it up and watch&#x2F;listen to &quot;whatever&#x27;s on,&quot; instead of searching Taylor Swift and getting angry when they can&#x27;t find it.