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Tag: Spotify

Spotify pays $10bn to music industry in 2024
News

Spotify experiences global outage

Music streaming giant Spotify faced a major service disruption on Wednesday, affecting users across several countries, according to outage tracking website Downdetector.com. As of 9:32 a.m. ET, more than 47,000 users had reported issues with the platform. The outage reportedly began around 6:15 p.m. IST (8:45 a.m. ET), with users flagging problems ranging from the […]

Spotify pays $10bn to music industry in 2024
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Spotify paid Nigerian, S’African artists $59m royalty in 2024

Audio streaming giant Spotify significantly increased its royalty payouts to artists from Nigeria and South Africa in 2024, distributing nearly $59 million as global demand for African music continues to soar. The figures, released by the company on Thursday, underscore the growing international appeal of artists from the continent’s two biggest music markets. According to […]

Spotify launches 'Concerts Near You' playlist for event discovery
News

Spotify launches ‘Concerts Near You’ playlist for event discovery

Spotify has launched a new personalized playlist aimed at helping users discover upcoming concerts in their area. Titled “Concerts Near You,” the playlist refreshes every Wednesday with 30 songs from artists scheduled to perform nearby, complete with event details and ticket links. Spotify partners with ticketing platforms such as AXS, DICE, Eventbrite, and Ticketmaster to […]

Spotify expands audiobook, lure authors with with new publishing program
News

Spotify expands audiobook, lure authors with with new publishing program

Spotify has announced the launch of a new publishing program aimed at helping authors turn their short-form stories into audiobooks. The initiative, revealed on Thursday, marks an expansion of the streaming giant’s existing audiobook efforts. Under the new program, Spotify will handle the production and distribution of selected stories, making them available through major audiobook […]

Spotify pays $10bn in royalties to artists, others
News

Spotify pays $10bn in royalties to artists, others

Music streaming giant Spotify announced on Wednesday that it paid a record $10 billion in royalties to the music industry in 2024, marking the largest single-year payout in its history. In a report, Spotify said the $10bn payout was “the largest in music industry history”, comparing itself to Tower Records at the peak of the […]

Spotify expands audiobook, lure authors with with new publishing program
News

Spotify CEO urges EU to punish Apple for violating big tech rules

Spotify’s CEO, Daniel Ek, has intensified his longstanding dispute with Apple Inc., accusing the tech giant of persistently violating the European Union’s regulations designed to oversee major technology firms. Ek has slammed Apple’s efforts to comply with the Digital Markets Act, calling them a “farce.” He accused the company of following a “well-established pattern of […]

News

Spotify considers $5.99 increase in subscription fees

Spotify is considering launching a premium music streaming tier that could cost up to $5.99 per month on top of existing subscriptions, offering higher-quality audio, remixing tools, and access to concert tickets, Bloomberg News reported on Friday. The new service, tentatively called “Music Pro,” is expected to debut later this year, though final pricing and […]

Spotify pays $10bn to music industry in 2024
News

Spotify pays $10bn to music industry in 2024

Global audio streaming giant Spotify announced on Tuesday that it paid $10 billion to the music industry in 2024, bringing its total payouts since inception to nearly $60 billion. The company emphasized this milestone as part of its effort to counter claims that it inadequately compensates artists for their work. Spotify clarified that the payouts […]

Spotify launches 'Concerts Near You' playlist for event discovery
News

Spotify co-founders rake in $900m as stock soars

Spotify co-founders Daniel Ek and Martin Lorentzon have cashed in a combined $900 million in stock payouts this year, following a remarkable surge in the streaming giant’s market value, which has approached $100 billion. This rise marks an extraordinary recovery from previous years when the company’s valuation had dropped below $20 billion. According to filings […]

Spotify expands audiobook, lure authors with with new publishing program
News

Spotify eyes $1.5bn annual profit

Spotify is set to achieve a milestone $1.5 billion operating profit for 2024, marking the streaming giant’s first-ever profitable full year. According to the company’s third-quarter financial report, released on November 12, Spotify’s strong performance is largely driven by significant growth in premium subscriptions and ad-supported revenue. As of the end of Q3 2024, Spotify’s […]

Spotify launches 'Concerts Near You' playlist for event discovery
News

Spotify expands music video testing to 85 new markets

Spotify announced today that it is expanding its testing of music videos to 85 additional markets for premium users. This follows an initial trial launched in March, which included a limited rollout in 11 countries, such as the U.K., Germany, Italy, the Netherlands, Poland, Sweden, Brazil, Colombia, the Philippines, Indonesia, and Kenya. Egypt was added […]

Spotify pays $10bn to music industry in 2024
News

Spotify raises premium subscription prices by over 40%

Online audio streaming platform Spotify has announced a significant price increase for its Premium subscribers, raising fees by more than 40%. Starting in November, the monthly cost for the Premium Individual plan will rise from ₦900 to ₦1,300. The company stated that this adjustment is necessary to support ongoing innovations and enhancements to its product […]