music streaming. if in going public evaluation plummets, that would be bad for these investors to pay them more and more money throughout the year. especially because universal, sony and warnerstakes in spotify. sony, listed in the filing today, owns 2% of the company. it would be pretty bad for them is bona fide tanks in some way. and modified it very well and that would likely be because it is adding a lot of subscribers and growing revenue and almost all of that money is going to those rights holders, more than 70%. as a spotify goes, so go most of the us music base. emily: other music streaming companies that have gone forward have struggled, such as pandora. could this company see a turnaround, or is the story written? lucas: it is hard to see a sharp turnaround for pandora because one of the reasons it has fallen is spot of five. pandora was the first is successful, big online music company with the radio product and then spotify and apple pay around with the on-demand service and it replaced a lot of the use cases for pandora. they could be enough room in the market for three or four room services and most companies hope there is roo so they are not too beholden to sp