[jamesshamenski]

The labels have ownership in Spotify [1]. If any disruption comes from the aggregation of their own content, the labels will profit.

The labels will not pull the plug on Spotify as it represents too great a portion of future industry revenues.

You are correct about dealing with Spotify's competitors. Tidal and other streaming services are the labels best shot at reducing the leverage of any one player (Spotify or Apple).

[1] http://www.swedishwire.com/jobs/680-record-labels-part-owner...

[IBM]

I don't think having minority stakes in Spotify makes up for the alternative scenario where Spotify becomes the dominant music streamer and devalues their current music assets.