Qobuz reported strong growth in 2025, wellabove the global paid music market, with a model focused on subscriptions,high-quality audio, curation, and no free plan.

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The news opens up an interestingperspective within an industry that is used to always looking at the biggestplayers.

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Qobuz is building its place from adifferent promise: audio quality, paying users, curation, and an experiencemore focused on people who listen to music with attention.

That does not mean it will replace themajor platforms.

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But it does show that there are differentways to create value within streaming.

For some catalogs, being present on nicheplatforms or platforms

with a higher-quality listening experience can makestrategic sense.

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Not because they will immediately bringmillions of listeners, but because they can connect with more engagedaudiences, with a

stronger willingness to pay and deeper listening habits.

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There are massive platforms, discoveryplatforms, video platforms,

editorial platforms, high-fidelity spaces, regionalservices, and more specific communities.

Thinking about distribution from a globalperspective does not mean only looking at where the largest number of usersare. It also means understanding where each catalog can live better.

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Sometimes, the value is not in reachingeveryone, but in reaching the right audience, in the right context, with anexperience that supports the music better.