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Yesterday Apple Reminded Us Of Why Spotify Is Not Even Close To Winning The Streaming Wars

With 100 million users (including 35 million paid), it's tempting to declare Spotify the winner in the battle for streaming music supremacy. But remember this… competitor Apple, which has a. Continue reading [https://www.hypebot.com/hypebot/2016/07/yesterday-apple-reminded-us-of-why-spotify-is-not-e

,   and  Bruce Houghton
Apple headphonesWith 100 million users (including 35 million paid), it's tempting to declare Spotify the winner in the battle for streaming music supremacy. But remember this… competitor Apple, which has a market cap of $520 billion and $231 billion in cash, yesterday reported a quarterly net profit of $7.8 billion – and that, on a good day, is about what all of Spotify is worth.

CashGoogle has $73 billion in cash tucked away and earlier this year reported a quarterly net profit of $3.97 billion so it would take them six months to pay for Spotify from net profits at its current  total valuation of $8 billion.

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