Whatever you may think about Apple Music as a product, one thing is hard to deny: It's having an impact. Along with Jay-Z's Tidal, Apple's music subscription service has shown that having star power and relationships deep inside the music industry can be a huge competitive perk.
Spotify is now reportedly hiring music manager Troy Carter to help head up its exclusive content and artist relations efforts. Although Spotify has been working closely with artist and labels for years, the company hasn't had anybody with quite the industry clout of Apple's Jimmy Iovine or Tidal's Jay Z. Meanwhile, those companies have started using exclusive releases from high profile artists as a competitive weapon against Spotify, which remains the leader in the music subscription space.
In addition to managing artists like Lady Gaga, Eve, John Legend and Meghan Trainor, Carter also started AF Square, an angel fund that has invested in startups like Uber, Dropbox, Warby Parker, and yup, you guessed it: Spotify. JPT