YouSaid · the spoken record

Steve Boom

lines on the record: 113
first: 2022-11-01
most recent: 2022-11-01
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Well, I think you have to understand maybe some of the genesis of that. I think part of it is from. No industry was more disrupted by digital than music with piracy, right? And”
2022-11-01 · Decoder with Nilay Patel · Why Amazon VP Steve Boom just made the entire music catalog free with Prime · IDENTIFIED FROM THE TRANSCRIPT
“That to me is like one of the foundational questions here, right? It's you can pay 12 bucks a month to Netflix. You get the Netflix catalog. You can pay 12 bucks a month to Disney. You get the Disney catalog and maybe some Hulu and whatever's on ESP. That's right. You pay 10 bucks a month to Amazon or Apple or Spotify. You”
2022-11-01 · Decoder with Nilay Patel · Why Amazon VP Steve Boom just made the entire music catalog free with Prime · IDENTIFIED FROM THE TRANSCRIPT
“Would increase and the mindset would shift from gosh, that's a lot of money to pay for music to, yeah, this is just an entertainment service I want to have. And at 10 bucks a month for all the world's music. It's a ridiculous bargain, let's be honest.”
2022-11-01 · Decoder with Nilay Patel · Why Amazon VP Steve Boom just made the entire music catalog free with Prime · IDENTIFIED FROM THE TRANSCRIPT
“Has a limited catalog of music. A lot of these people don't need the full catalog back in 2012. I point out that at the time Pandora had a catalog of about a million songs. That's it. That was a very successful service. So that's what we launched in 2014 in the US, 2015, around the world. So we built that for people that are maybe more casual music listeners. Of course, everyone on my team was not a casual music listener. So we're like, well, we want to build something for ourselves too. And we always knew we'd want to build that premium service because we believed and have been proven right that over time consumers' appetite for spending more money on subscriptions.”
2022-11-01 · Decoder with Nilay Patel · Why Amazon VP Steve Boom just made the entire music catalog free with Prime · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, me too. And the thing is, we're trying to get people now to spend $120 a year at the time, again, 2012, 2013. That was actually asking a lot of people. Just subscriptions were still new generally. Amazon Prime was quite small, Netflix was quite small. A lot of this other stuff, Spotify barely, I think it just launched in the United States. It's hard to imagine that time, but that's where we were. And our idea was, what if we build a music service for everybody else? Not the people that are willing to part with 120 bucks a year? So that was the idea behind Prime Music. When it came out, it was like, let's give people a premium music service”
2022-11-01 · Decoder with Nilay Patel · Why Amazon VP Steve Boom just made the entire music catalog free with Prime · IDENTIFIED FROM THE TRANSCRIPT
“Few tracks in an album or whatever, and we thought to ourselves, wow, so it's really only the top 10 to 15% of customers who are spending more. And some of them were spending, I mean, a lot more, hundreds of dollars, even thousands of dollars a year.”
2022-11-01 · Decoder with Nilay Patel · Why Amazon VP Steve Boom just made the entire music catalog free with Prime · IDENTIFIED FROM THE TRANSCRIPT
“But the music's superhighway is littered with startups that tried to do $10 a month services, right? We looked at the data of how people were purchasing music, and we had the benefit, obviously, of being a retailer. Not only do we have digital downloads, we have the largest at the time and continue to be the largest retailer of physical music in the world. We could see what was happening, which is if you looked at the called the bottom 85, 88% of customers just in volume, digitally they were spending about $15 a year, physically maybe 30 bucks a year. So if you think what that means, it means buying a couple CDs physically or digitally they're buying.”
2022-11-01 · Decoder with Nilay Patel · Why Amazon VP Steve Boom just made the entire music catalog free with Prime · IDENTIFIED FROM THE TRANSCRIPT
“Not particularly part in the pun mainstream at the time. And we knew we needed to get into streaming. It was clear from our customers that the download market had peaked right literally the month I arrived at Amazon was the month it peaked globally. So we do what we do at Amazon, wrote a white paper, went to Jeff sometime in 2013. I didn't come from the music industry at that time, so that was, I was brand new in the music industry the day I started at Amazon. you know, not surprising it took a minute or two to kind of figure out the lay of the land. It's a pretty complicated industry with all the licensing specifics and all that. So we came up with the idea back in 2013 is that, you know, streaming is new. What if we did something different than everyone else is doing? Everyone else who were out there, most of those companies don't exist anymore. There's some names like RDO, MOG, and some other companies you might remember. RDO is great.”
2022-11-01 · Decoder with Nilay Patel · Why Amazon VP Steve Boom just made the entire music catalog free with Prime · IDENTIFIED FROM THE TRANSCRIPT
“Along with a few other people who I guess could be called the founders of Amazon Music. I joined the company almost 11 years ago. And when I started, Amazon was selling MP3 downloads. That was the business. And this is back in early 2012. So it's almost hard now 10 years later to remember that streaming was actually.”
2022-11-01 · Decoder with Nilay Patel · Why Amazon VP Steve Boom just made the entire music catalog free with Prime · IDENTIFIED FROM THE TRANSCRIPT
“Wandery, which is a podcast studio that we own, but a lot of it's going to be from big brands that people are listening to outside of Wandery. So we're excited about that.”
2022-11-01 · Decoder with Nilay Patel · Why Amazon VP Steve Boom just made the entire music catalog free with Prime · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, so we're updating the benefit that prime members get in music and audio. Historically, prime music has been a catalog of two million songs. And the biggest feedback we've gotten over the years is we love this service, comes with Prime, but we really want access to more music. And so as of today, we're announcing that we're expanding the catalog to 100 million songs. So basically it's a full catalog service, playable in shuffle mode, ad-free. So if you think about it's really the best music service you can get without having to pay $10 a month or more. We're also adding a bunch of podcast benefits into it. And so, for example, we're going to have the largest catalog of top ad free podcasts. So when we talk to consumers, what do they want? The biggest thing they don't like about podcasts is all the ads. Not surprisingly. And so we focused on building a great catalog of stuff that people like to listen to and making that ad-free. Some of it's going to come from...”
2022-11-01 · Decoder with Nilay Patel · Why Amazon VP Steve Boom just made the entire music catalog free with Prime · IDENTIFIED FROM THE TRANSCRIPT
“Thanks for having me. I'm really excited to talk to you today. So, you have some news. We should start with the news. You're expanding the catalog of songs for Amazon Prime members. Tell us about that.”
2022-11-01 · Decoder with Nilay Patel · Why Amazon VP Steve Boom just made the entire music catalog free with Prime · IDENTIFIED FROM THE TRANSCRIPT
“Relationship with Apple and Apple music. And if those restrictions are in the way of his ideas, apparently things go to the top of both companies more often than we know. And of course, I asked him if spatial audio for music is nonsense because honestly, I think spatial audio for music is pretty much nonsense. It's a fun one. Okay, Steve Boom, VP of Amazon Music. Here we go. Boom. You're the VP of Amazon Music. Welcome to Decoder.”
2022-11-01 · Decoder with Nilay Patel · Why Amazon VP Steve Boom just made the entire music catalog free with Prime · IDENTIFIED FROM THE TRANSCRIPT