![]() ![]() Spotify chief r&d officer Gustav Söderström spoke about the company’s expanded machine learning capabilities, which is bringing new features like better search and algorithmic playlists to users. “We’re helping fans discover artists that they’ve never heard before, 16 billion times a month,” he said. Spotify Hits 155 Million Paid Users, $9.5 Billion Revenue in 2020Įrlich said Spotify adds over 60,000 new songs to its platform every day and has added 76,000 artists to its playlists for the first time, noting that its algorithms are powering a new level of discovery for users that wasn’t possible before. “On Spotify, artists from Latin trap, South African house, or even classical find more than 80% of their streams outside of their home country,” Ostroff said. While the company may have a new focus compared to where it began 15 years ago as a pure music service, Spotify started the event highlighting how its algorithms have helped promote artists outside of their home markets and push users to discover new artists. Spotify spent nearly an equal amount of time on music and podcasting during the event, a signal of how it sees the company moving forward. “We’re committed to building the world’s leading audio platform,” Dawn Ostroff said before announcing a slew of new podcasts. Spotify will become the biggest streaming service to announce a high-fidelity tier, following Amazon Music HD’s rollout in September 2019. Outside of Amazon, high-fidelity streaming audio has been limited to smaller platforms like Qobuz, Tidal, and Deezer. Spotify has not released additional details around the audio quality of its HiFi offering, or how much it will cost. Spotify Announces Global Expansion of 80 New Markets
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