Posted on Feb 22, 2019 2021 at 19:03Updated Feb 22, 2019 2021 at 19:19
Show of strength. Monday evening, the leader of music streaming announced that it will land in 85 new markets in the coming days, in Asia, Africa, Europe, Latin America and the Caribbean. “Together, these markets represent more than 1 billion potential new listeners”, advance Spotify.
In early February, Spotify launched in South Korea, the country of K-Pop then becoming the 93rd nation where the platform is now accessible. With these 85 new countries, the group will soon be available in 178 nations in all and will benefit from greater geographic coverage than its main rival, Apple Music, which is already present in 167 countries.
This slower deployment has in no way prevented Spotify from having gained the upper hand, in recent years, with 155 million paying subscribers, against just under 70 million – according to estimates by Counterpoint at the end of 2019 – for the service. from the firm to the bitten apple.
The group has also and above all unveiled a slew of new products to create and monetize the audio content that will come to expand and enrich its platform. First, Spotify has let it be known that it will offer better sound quality to its premium subscribers later this year.
Aimed at musicians, the group will launch SoundBetter, a marketplace that will connect artists and service providers in the music sector. It also offers them the possibility of highlighting the songs they choose much more easily than before.
“By 2025, up to 50 million creators will offer audio content on Spotify”, believes the company. It also refers to the podcasts on which the group has been heading for several years. Spotify does not hide it: it no longer wants to be just a heavyweight in music streaming and intends to transform itself into an audio giant.
In this area, the platform has notably confirmed its multi-year agreement with Warner Bros., which will result in audio content adaptations of original stories of superheroes from the DC Comics franchise: Superman, Wonder Woman, Batman, etc. The group has just announced the new audio series: “Batman Unburied”.
The group also announced a partnership with WordPress. Certain written content can thus be ported orally to Spotify. He also mentioned more interactivity to come with Anchor, a company specializing in providing production and monetization tools to podcast creators, which he bought two years ago.
Stock market record
Today, Spotify has 345 million monthly active users worldwide. An indicator increasingly put forward by the group which is transforming itself into a giant audio platform. Because at the same time, the firm is trying to change its economic model by developing its advertising revenues, thanks in particular to its podcast offer (available in open access) that Spotify has considerably expanded in recent years through multiple investments.
A strategy that seems to convince the financial markets. Monday, the course of the Swedish group climbed nearly 5.3% in mid-session on Wall Street at the time of the announcements. Currently, Spotify is close to its peaks on the stock market and for the first time crossed the symbolic threshold of 70 billion dollars in capitalization. His record.