Connect with us

Hi, what are you looking for?

Economy

Spotify to launch in 85 new markets, reach more than a billion listeners

STOCKHOLM/NEW YORK — Spotify said on Monday it would nearly double its market presence by launching in 85 new markets in the next few days, making the music streaming service available to more than a billion people around the world.

The Swedish company, which started its service more than a decade ago, is currently available in 93 countries and has 345 million monthly active users.

While Spotify is the leader in music streaming, entry in new countries across Asia, Africa, Europe, and Latin America would significantly increase the gap with its rivals, Apple Music and Amazon Music.

“Together these markets represent more than a billion people, with nearly half of them already using the internet,” said Chief Premium Business Officer Alex Norstrom. “Some of the places we’re going like Bangladesh, Pakistan, and Nigeria have the fastest growing internet populations in the world.” An earlier expansion drive in India, Russia, and the Middle East has already brought in millions of subscribers.

While paid subscribers got a boost during the coronavirus pandemic as people locked in their homes opted for its premium service, the company is now looking to boost its advertisement revenue.

In a one and half hour livestream featuring singing by Justin Bieber, Spotify released a host of new features for artists and tools for advertisers for better targeting its millions of users across music and podcasts.

PODCAST PLAY
In its efforts to make money from podcasts, Spotify announced the creation of a podcast advertising marketplace where advertisers can buy across a network of original exclusive and independent podcasts and target audiences both on and off Spotify.

It has spent hundreds of millions of dollars to boost its podcast range, which now has more than 2.2 million podcast titles, including The Michelle Obama Podcast and one by Prince Harry and his wife, Meghan.

Higher Ground Productions, Barack and Michelle Obama’s production company, announced another new show with Bruce Springsteen for Spotify called Renegades: Born in the U.S.A.

On Monday, Spotify announced a partnership with AGBO, a company led by Anthony and Joe Russo, creators behind films like Avengers: Infinity War, for multiple podcast series. It also signed a deal with Warner Bros. and DC for a range of narrative-scripted podcasts.

The first, Batman Unburied, will release later this year as part of a set of characters whose stories will be explored via audio, including Superman, Wonder Woman, the Joker, and Catwoman, among others.

Spotify also launched a new subscription service, Spotify HiFi, with which premium subscribers in select markets will be able to upgrade their sound quality of the songs to “lossless” CD-quality Music. — Reuters

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

INFLATION in the first eight months stood at 4.4%, quicker than the central bank’s 4.1% average inflation forecast for 2021. — PHILIPPINE STAR/ MICHAEL...

Economy

By Kyle Aristophere T. Atienza, Reporter PHILIPPINE President Rodrigo R. Duterte’s political allies — at least those who are running for the country’s top...

Economy

The Balagtas Station of the Philippine National Railway Clark Phase 1 Project is currently under construction. Photo taken on June 14. — PHILIPPINE STAR/...

Economy

A SENIOR economist at the Asian Development Bank (ADB) said a local bourse’s program for micro, small, and medium enterprises (MSME) is key to...

Economy

GNPower Dinginin’s commercial run moved to Q3 2022 By Angelica Y. Yang, Reporter THE management of GNPower Dinginin Ltd. Co. (GNPD) said the timeline...

Economy

RATES of government securities on offer this week may move sideways or inch up as the dual-tranche offering of onshore retail dollar bonds (RDBs)...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!