Earlier quoted context omitted.
You'd be targeting a niche market, not only because of the 3% market mentioned in the article, but because I imagine that all "serious" classical fans (i.e. serious enough to switch to consider using a dedicated streaming service) is also likely to have a big album collection. In other words, you'd likely be targeting a very fast-saturated market. And that's besides the legal/licensing horrors. That being said, I thi…
The other problem with this market as a business opportunity is that the audience is diminishing, aging and slow technology adopters. Go to any classical music concert and you will see that under 30s are in the vast minority. Look at how many venues open each year playing modern popular music (ie pop, house, indie, etc) and how many open playing classical music. I'm an active classical music fan in London - one of th…
The Proms aren't going to go away, nor are concert series in most of the UK's bigger cities. Nor is Classic FM, which is pretty much just Spotify with DJ chat and someone else's playlist, and is a good gateway pusher to classical recordings.
And middle class families will keep giving their kids piano and cello lessons, because that's what they do.
What's happened more - according to people I know - is that the intake at the Royal College and the Royal Academy is almost exclusively posh kids now, because rich parents are the only ones who can afford to hothouse and support their darlings through the exams. It was much more diverse a couple of decades ago, because music education - all education, in fact - was much more freely available.
That will do more to kill classical music than Spotify's metadata will, because it will become something that isn't made available to most of the population.