Streaming music giant Spotify announces its entry into 85 new markets, covering over 1 billion users
In the morning of February 23, it was reported that Spotify, a Swedish streaming music service platform, said on Monday that it will enter 85 new markets in the next few days, nearly doubling its market share , and allowing more than 1 billion people worldwide to use Spotify. Music streaming service.
The company's stock price reversed the early decline, rising by as much as 6%, setting a record high.
The company launched this service more than ten years ago and currently provides services in 93 countries with 345 million monthly active users.
Although Spotify is the leader in streaming music, its entry into new countries in Asia, Africa, Europe and Latin America will greatly widen the gap between it and its competitors Apple Music and Amazon Music.
"The total number of users in these markets exceeds 1 billion, and nearly half of them are already using the Internet," said Alex Norstrom, the company's chief senior business officer. "Some of the markets we want to enter, such as Bangladesh, Pakistan and Nigeria, have the fastest growing Internet population in the world."
Previous expansions in India, Russia and the Middle East have brought millions of users to the company.
During the new crown pneumonia pandemic, people chose the company's paid services while staying at home, and the number of paying users increased dramatically. The company is currently seeking to increase its advertising revenue.
During the live broadcast of Justin Bieber's live performance for an hour and a half, Spotify released a series of new features for artists and tools for advertisers to better target millions of users through music and podcasts.
Podcast playback
In order to make money from podcasts, Spotify announced the creation of a podcast advertising market where advertisers can purchase services through original, exclusive and independent podcasting networks, and target audiences online and offline on Spotify.
The company has spent hundreds of millions of dollars to expand the scope of podcasts, and currently has more than 2.2 million podcast titles.
On Monday, Spotify announced a collaboration with AGBO, a company led by Anthony Russo and Joe Russo, to launch multiple podcast series. Anthony Russell and Joe Russell are the creators of movies such as "Avengers: Infinity War". The company also signed a series of narrative scripted podcast agreements with Warner Bros. and DC Comics.
The first is "Batman Unburied" (Batman Unburied), which will be released later this year as part of a series of characters whose stories will be explored through audio, including "Superman" and "Wonder Woman." "Joker" and "Catwoman" etc.
Spotify also launched a new subscription service-Spotify HiFi. Through this service, paying users in some markets can upgrade their sound quality to "lossless" CD quality music.
The company's share price reached an intraday high of $387.44.