Fast Company recently put together its annual list of the Most Innovative Companies for this year. While Apple is the most innovative company once again, Apple wasn't the most innovative company within the music industry. So while Apple, Netflix, Square, Tencent, Amazon, Patagonia, CVS Health, and The Washington Post were labeled the most innovative companies in the world, Spotify wasn't mentioned until the #9 position.

Below you will find the 10 most innovative music companies for 2018.

1. Spotify
With Spotify planning to go public soon, Spotify tops the charts with its streaming platform, and the ability to lock down label deals.

2. Dubset
Dubset is all about getting unofficial remixes authorized by labels.

3. Big Machine
Big Machine is mastering the arm of the album release in the streaming era.

4. Major Lazer
Major Lazer made the list due to their experimentation with VR and interactive video experiences with fans.

5. Smule
Smule has created a platform to pair social media and karaoke for a beautiful duet.

6. B-Reel
B-Reel is a technology platform with AR & 360-degree video.

7. Atlantic Records
Atlantic Records has released everyone from Cardi B to Ed Sheeran.

8. Kobalt
Kobalt is another innovative company that helps artists track royalties from Instagram, Streaming, and YouTube.

9. Vinyl Me, Please
Vinyl Me, Please has reinvented the subscription record club.

10. Fender Music Instruments
Fender Music Instruments is instrumental for its teaching music app.