Spotify will expand to 85 new markets
Spotify announced that it will enter 85 new markets, hoping to nearly double its market share. Public data shows that Spotify currently has 155 million users and 345 million monthly active users.
The key areas for Spotify’s expansion this time are in Asia, Africa, and Latin America. Spotify executive Alex Norstrom said, “Having more listeners on our platform creates more opportunities for artists and podcasters to make a living from their work. And more creators means more audio content for our users to discover.”
As people spend more time at home during the epidemic, Spotify’s users have also grown rapidly. And its service functions are gradually increasing. From the development of online concert services to the testing of audiobooks, Spotify hopes to catch all users’ needs for “listening”.
At the end of last year, the media also reported that Spotify was still considering entering the field of encrypted payments, and it was looking for a deputy director to join its Payment Strategy and Innovation team. The director will take on the responsibility of promoting “new opportunities and innovation” in distributed ledger technology, blockchain, cryptocurrency, stable currency, central bank digital currency, and other digital assets.