Spotify plans to expand presence in the global streaming market. During a meeting with representatives of the world media on February 22, company representatives announced that they would launch music services in 85 countries. We are talking about countries in which the service did not previously officially work. First of all, it is the Asia-Pacific region and the Caribbean region, as well as many African States.
The Swedish music streaming service will be available in 36 more languages. At the same time, more than a billion users will be able to use streaming service in the opened markets. In general, after the expansion, the streaming company will be able to operate in 178 countries.
The music streaming service was able to operate almost all over the world thanks to globalization. Representatives of the music industry are becoming popular not in individual regions, but on a global scale.
Spotify is considered the leader in the world of streaming. The service controls 32% of the market. Apple Music’s closest competitor is only 19%, while Amazon Music is 15%. By the end of 2020, Spotify had more than 300 million active users and more than 150 million paid subscribers.
However, the growth potential of subscribers in the main countries where the company operates is declining. Therefore, the service needs to expand to new markets.
Spotify increases the number of authors of music and podcasts.