Spotify “plans” to develop into events, according to . The outlet reports that the company could sell tickets for virtual and live concerts as it seeks to diversify its business. However, making money from paid events isn’t necessarily Spotify’s short-term goal. His most immediate plan is to use them as a way to improve his relationships with artists.
Information suggests that Spotify believes there is an opportunity to leverage the data it has to help musicians plan successful gigs in places most promoters avoid. In this way, the company is said to think it can better show artists that it is invested in their careers. It would also be a way for it to differentiate its platform from Apple Music.
Spotify has dabbled in live events before. Last spring, the company featuring artists like The Black Keys and Leon Bridges. He sold tickets to these shows for $ 15 each. Information reports that the results of those concerts “validated” Spotify’s thinking about what events might bring him in the future, and he’s been thinking about next steps ever since. Of course, we wouldn’t say that an expansion is a done deal. Selling tickets to concerts might make a lot of sense for a music streaming platform, but it would still represent a massive business shift for Spotify.
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