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I seriously doubt that Spotify saved the music industry. If anything, Bandcamp is the one that could claim such thing. Having an easy way to pay for music where I buy an album or song is the way to go if you respect musicians. Downloading ALAC is the same as buying a CD but a digital way. Using a streaming service is a much more complicated way where niche artist are not going to be too happy. (Some examples from musicians below).

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Never heard of Bandcamp. Been paying for Spotify for a decade, though (since oct. 5 2009).

Edit: Cannot find a single mention about Bandcamp on any news site in my country (Norway), and virtually no results in some more countries I checked. Do they have a European presence at all?

You’re probably listening to mainstream music. You won’t find Rihanna or Beyonce on Bandcamp. If you prefer listening to such artists then Spotify is perfect for you.

Bandcamp is for more nuanced, underground content. E.g. ¾ of reviews on Pitchfork link to the Bandcamp page of the artists.

Maybe you should check it out. Plenty of music available even from your country.

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