Spotify is undoubtedly one of the Essential Platforms That Changed The Music Industry & Will 10X Your Engagement in 2021. The music industry’s representatives worldwide including producers, artists, marketers, labels, all take the platform very seriously, so do the fans around the globe who want to enjoy quality music. However, Spotify has still not been made available in several countries, including some home to fertile music markets.
After launching in India a year and a half ago, the music industry’s giant is entering another important market: Russia, as first reported by Music Business Worldwide. The Swedish streaming phenomenon marked its 80th territory on July 15, 2020. The platform partnered with the Russian telco MTS for the launch.
Being used by nearly 100 million smartphones, Spotify has 130 million paid subscribers and 286 million total global users reported by the platform as of the end of April, during its last quarterly earnings call. After Spotify’s stock reached an all-time high of $267.48 per share, boosted by Goldman Sachs’ upgrade, the price target raised from $205 to $280. The platform also signed deals with Warner Bros and DC Entertainment “to produce and distribute an original slate of narrative scripted podcasts based on its stable of Superheroes and Supervillains, which includes Superman, Batman, Wonder Woman, Harley Quinn, and the Joker” as reported by Variety.
Spotify also has a $100 million-plus deal to exclusively distribute Joe Rogan’s “The Joe Rogan Experience” podcast and deals with Kim Kardashian West for an exclusive podcast about criminal-justice reform plus a deal with the Obamas for a slate of exclusive podcasts. Megan Thee Stallion launched her new album Good News on Spotify’s mobile app featuring exclusive videos of the artist telling her fans about the songs from the album and sharing details of the recording process.
Today, Spotify is active in 92 markets. It cracks other countries among Russia, including Albania, Belarus, Bosnia & Herzegovina, Croatia, Kazakhstan, Kosovo, Moldova, Montenegro, North Macedonia, Serbia, Slovenia, and Ukraine, which adds more than 250 million potential new listeners to the platform.
If you think that starting a Spotify account is a great idea for leveling up your music marketing game, it will be smart of you to check-out MusicPromoToday’s blog on The 5 Most Important Steps For An Outstanding Spotify Profile to get started. And if you are planning on going even further, you may also find it interesting reading How to Get Your Music on Spotify’s Biggest Playlist: RapCaviar.
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