Spotify Changes its Spots
Music Streaming Giant Spotify announced this week that it would soon be diversifying its content to include podcasts, video clips, playlists to suit the time of the day, local news broadcasts and even a music to suit the pace of your run with inbuilt app sensors. The new responsive features are aptly called the Now Start page and Spotify Run.
Spotify, which was recently valued at $8 billion has more than 60 million regular users across 58 countries. According to the company, 20% of its users pay for its premium ad-free subscription services. Chief executive Daniel Ek said that represents more than half of the global market in “streaming dollars”.
Spotify’s expansion follows a trend as tech firms spread their services across many areas in an attempt to become everything to everyone. As long as people are spending longer on a platform, its advertising space can become more lucrative. Although Spotify has 15 million paying subscribers, it recorded an operating loss of £119m in 2014, on revenues of £777m and perhaps is move into further areas can turn its losses around.
Spotify’s new features are presented in its video below: