Swedish audio streaming service Spotify is about doubling its market and launching new services for artists and advertisers. A podcast offensive is also being deployed. Article link https://www.news1.news/news/2021/02/spotify-expands-into-85-new-markets.html
The Spotify Technology share responded positively on Monday.
Spotify will become active in 85 new markets in the coming days. Article link https://www.news1.news/news/2021/02/spotify-expands-into-85-new-markets.html
The service will be available worldwide to more than a billion people.
The service of the listed company Spotify Technology is currently available in 93 countries and has 345 million monthly active users. A breakthrough in Asia, Africa, Europe and Latin America would significantly widen the gap with rivals Apple Music and Amazon Music.
Advertisers are offered a network of exclusive and independent podcasts with audiences both inside and outside Spotify.
Together, those markets represent more than a billion people. Almost half of them use the Internet, ”said Alex Norstrom, the company’s Chief Premium Business Officer. “Some of the countries we are going to, such as Bangladesh, Pakistan and Nigeria, have the fastest growth in the number of internet users in the world.”
Spotify is not ready for its test piece. An earlier expansion to India, Russia and the Middle East generated millions of additional users.
During the lockdowns, the number of paying subscribers rose sharply, the company now wants to boost advertising revenues.
Podcasts and new services
During a livestream with Justin Bieder, Spotify announced new services for artists and advertisers on Monday evening.
This will create a market for podcast ads. Advertisers are offered a network of exclusive and independent podcasts with an audience both inside and outside Spotify.
Spotify doesn’t just bet on advertisements. In the coming months, some American podcast makers will be able to offer paid podcasts in test versions via the Spotify platform Anchor, said Michael Mignano, co-founder of Spotify. Currently most podcasts are free and their creators aim for advertising revenue.
Anchor now also partners with the blogging platform WordPress to turn blog posts into podcasts. Podcasts can also become more interactive with the options to create polls and Q&A sessions.
The Swedish company has spent hundreds of millions to expand its podcast offering. It now has 2.2 million titles including ‘Article link https://www.news1.news/news/2021/02/spotify-expands-into-85-new-markets.html
The Michelle Obama Podcast’ and a podcast by Prince Harry and his wife Meghan.
Higher Ground Productions, the production company of Barack and Michelle Obama, announced a new show for Spotify with Bruce Springsteen entitled ‘Renegades: Born in the USA’.
Spotify partners with AGBO, a company led by Anthony and Joe Russo, the creative brains behind films such as ‘Avengers: Infinity War’, for several podcast series.
A contract was signed with Warner Bros and DC for a number of narrated podcasts. A first, ‘Batman Unburied’, will be released later this year. Stories are told with figures such as Superman, Wonder Woman, Joker and Catwoman.
Spotify is launching a new subscription service, Spotify HiFi, which will enable ‘premium subscribers’ in certain markets to increase sound quality to a so-called ‘lossless’ CD level. HiFi is still rare in the music streaming market, a competitor offering it is Deezer.
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