hat are the differences between free and premium from an economic point of view?

Use only the fille attached to answer the questions.
Please label the questions, such as Q1 (you do not need to write them out again). Not all answers are going to be the same length of answer. Do not write out a long summary if it can be brief. Likewise, spend time writing on answers that need significant explanation. For those who use Spotify, or a similar streaming service, also discuss how the service has changed since this case study was written. Please do not overlook the background question before Q1.
Background: Briefly give your background and familiarity with streaming services including video services (such as Netflix, Hulu, Sling, etc).Section 1 – Value Chain of the Music IndustryQ1: Who are the major players in the music industry?Q2: How has digital changed the value chain?Q3: who has the most power in the value chain of the music industry?Section 2: Spotify’s Success and CompetitionQ4: Why did Spotify grow so quickly?Q5: Does Spotify have a larger catalog?Q6: What is Spotify’s competitive advantage?Q7: Does Spotify have a better catalog?Q8: Does if have some features others do not? Are those features important to users?Q9: Will it be a winner-takes-all industry?Section 3: Spotify’s Business ModelQ10: Can Spotify Be Profitable?Q11: Why are the labels so powerful? And why do they avoid head to head competition?Q12: What are the differences between free and premium from an economic point of view? What is more profitable?Q13: What could Spotify do to become sustainable?Final question: Does Spotify have a positive future (explain your opinion)?