1. Where Ye used to be just another artist for Apple Music and Spotify, he now gets to keep all the customer data, build direct relationships with customers, and make a lot more money for the content. (This sentence doesn’t count: Years ago, Ryan Leslie did the same thing, keeping his music off platforms.)
2. Ye is bundling his music in an extremely creative way with Stem Player hardware, which gives customers a new listening experience.
3. If it succeeds, the Stem Player product can differentiate itself from software that only leverages network effects (unlike TIDAL which got acquired by Square).
4. Even if it fails, the Stem Player will be a way to recruit talent for Yeezy Tech, learn how to roll out technology hardware products, and serve as a case study to get funding from Silicon Valley (which Ye has not succeeded at yet).
5. Donda 2 has much greater leverage as support for the rest of the Yeezy Ecosystem, not to earn revenue from streaming and trying to hit pop charts.