Case Study Volcom

Volcom
The Volcom company was founded in 1991 and produces clothing and consumer goods intended for, but not limited to, customers who are interested or participate in board sports such as surfing, skateboarding, and snowboarding. The company was co-founded by two friends, Richard Woolcott and Tucker Hall, after a snowboarding trip in Lake Tahoe, CA. Woolcott earned a B.S. in business at Pepperdine University, and quit his job at Quicksilver to pursue Volcom with the already unemployed Hall. Woolcott received a loan of $5,000 from his father to get the company off and running. They created a diamond-like logo and decided only to produce t-shirts during the first year, but added shorts the following year. The company only saw a total of $2,600

The company was officially founded in 2006 in Ek’s apartment and an official beta version of the service was launched in 2007. Spotify allows users to stream over 30 million songs. There is a free version which has limitations compared to the paid subscription service, these limitations include viewing advertisements, diminished sound quality, and only allowed to listen while your device is connected to the internet. Spotify works closely with record labels and their artists, they license the digital rights to the recording from record labels and pay a royalty fee to the artist per stream. Spotify was revolutionary because listeners no longer had to pay $1-$2 per download of each song using iTunes, but instead could listen to virtually any song they wanted as much as they’d like for free, or a low subscription fee. The current subscription fee that Spotify charges its users is $9.99/month for its premium service which allows its users to browse and play music by searching for an artist, album, genre, playlist, or record label. Spotify is available to customers who own an iOS, Windows, macOS,, or Android device in most of Europe, Australia, Asia, America, and New

They have also innovated and integrated their services with Facebook, Uber, and exercise companies. What makes Spotify unique is that it is the first convenient on and offline music streaming service. Spotify’s service allows virtually anyone to listen to any song they want for free, as well as having an option to upgrade to their premium service to have more control over what they listen to without the use of advertisements. It is also unique because they identified a problem and made an affordable solution. Music listeners no longer had to spend hundreds of dollars for only a few thousand songs that needed to be downloaded and take up space on their device, but instead, they now could stream or download over 30 million songs for only $9.99/month. The company reaches its customers through advertisements within the music industry, such as artist album or single releases. And because it is one of the only digital platforms that an artist’s music is now available on. They also offer a great discount for college students at $4.99/month for premium which encourages young listeners to use the service, while yielding to the tight budget most college students live on. As of January 4, 2018, Spotify has more than 70 million paying subscribers, surpassing over $2.2 billion dollars in