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“This is the best time to invest in the music industry,” he adds, “before the stakes are too high and everything becomes too expensive.”
The official announcement comes days after speculation began online following a video posted by Simi hinting at an expanding family.
The shutdown marks the culmination of a decades-long decline, as streaming platforms such as Spotify, YouTube and TikTok steadily siphoned off viewers and advertising revenue.
Akothee also noted that just as producers need artists, artists depend on recording studios to execute their work.
Her net worth is now estimated at over $1 billion, fueled by sold-out global tours, chart-topping albums, and a diversified business empire.
Music streaming service Spotify said Monday it had disabled accounts from a piracy activist hacker group that claimed to have "backed up" millions of Spotify's music files.
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