This article on CNBC raises important questions about Spotify's ability to survive in the long term. Although it is by far the most popular streaming service, it has never turned a profit. And given how little they pay musicians and songwriters, how can they not make a profit?
As the most popular and celebrated music streaming platform, the company has its share of boosters. Still, as it prepares to join public markets, albeit in a somewhat unusual form, it faces the same problem other internet companies have faced before — a balance sheet that's deeply in the red, and a business model that doesn't show an obvious way to profitability.