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Since Spotify started in 2006, music streaming has gone from 0 to 83% of global industry revenues.
Early investor Pär-Jörgen Pärson said cofounder Daniel Ek was a big factor in the company's success.
Proving value in Sweden and Europe, then moving into the American market was crucial.
In 2007, Pär-Jörgen Pärson was wary of startups tackling music. The industry was a mess, with rampant piracy and plummeting revenues.
The Swedish VC investor and general partner at venture capital fund Northzone had already gotten burned investing in the space, and knew how difficult it would be to affect change.