Goal achieved for Spotify. The Swedish music streaming giant crossed the symbolic milestone of half a billion users in the first quarter of 2023, as expected. The announcement was made this Wednesday, March 8, during an event organized in Los Angeles to unveil new tools for artists, particularly in terms of monetizing their content.
At the end of 2022, Spotify lacked 11 million users to reach 500 million users on the platform. While music obviously remains its main business, Spotify has invested heavily in podcasts and audiobooks in recent years to diversify its offer and expand its audience. The company is now aiming for one billion users by 2030.
Spotify
Spotify is a music streaming platform that allows you to listen to unlimited music, radio and podcasts either without subscription (with advertising) or with a subscription.
-
Downloads:
737 -
Release date :
09/03/2023 -
Author :
Spotify AB -
Licence :
Free license -
Categories:
Music
-
Operating system :
Android, Google Chrome extension, Linux, Online service All Internet browsers, Windows XP/Vista/7/8/10/11, iOS iPhone / iPad / Apple Watch, macOS
A new interface inspired by TikTok
To make the platform more attractive, the Swedish company relies in particular on video formats. On March 8, during the Stream On event, Spotify unveiled a mobile interface directly inspired by TikTok, which allows endless scrolling to discover new content and obtain personalized recommendations using artificial intelligence.
Spotify is therefore undergoing a transformation which should gradually make it a musical social network. To enrich their profile, artists will notably have the possibility of adding 30-second videos, such as mini-clips, to make Spotify users want to listen to their music on the platform. With this focus on more visual formats, Spotify also wants to make more room for video podcasts.
With this approach, the music streaming heavyweight hopes to make the experience of its users more dynamic and take the opposite view of social networks, where sharing music videos does not necessarily benefit artists. By becoming more interactive, Spotify hopes to become the music destination of choice for fans, allowing artists to communicate with their community, announce their concert dates and sell merchandise.
This shift is obviously not without interest for Daniel Ek’s firm, which could monetize this new range of tools if they prove themselves to artists. As a reminder, Spotify ended 2022 in the red, with 430 million euros in losses.