Spotify is adding new features that will allow for more social expression and help users discover new music, among other things. The audio streaming giant service is adding a video feed designed to recommend songs, podcasts and audiobooks via short clips, like those found on TikTok, YouTube Shorts and Instagram. “Previews,” as they’re called, allow users to swipe through content recommendations. Generated either via algorithm or configured by an artist or podcaster, the short videos are meant to encourage a deep dive into something new or saving for later.
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Trying to assuage fears over what investors are concerned is a limited-growth market, audio streamer Spotify says it plans to hit one billion global monthly average users by 2030. Spotify closed Q1 with 422 million MAUs and 182 million paid subscribers, per Statista. At an Investor Day presentation in New York City this week, CEO Daniel Ek and chief freemium business officer Alex Norström showed slides indicating the company’s goal represents compounded annual growth rates of 26 percent for MAUs, paid subscribers and revenue (on a currency-adjusted basis). To get there, the executives emphasized emerging markets and podcasts. Continue reading Spotify Says One Billion MAUs by 2030 a Path to Profitability