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Spotify listeners cross half a billion mark
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(Reuters) -Spotify Technology SA said on Wednesday it would roll out new features like smart shuffle and previews of podcasts and music playlists on its audio streaming platform, as it crossed 500 million in monthly active listeners.
(Reuters) -Spotify Technology SA said on Wednesday it would roll out new features like smart shuffle and previews of podcasts and music playlists on its audio streaming platform, as it crossed 500 million in monthly active listeners.
The Swedish company, which has invested heavily in building up its podcast and audiobooks business in recent years in a bid to attract users and advertisers, announced the “new re-imagined user interface” at its Stream On event.
Spotify also shared an update to its annual music royalties report, noting that the number of artists making over $1 million as well as those generating over $10,000 had more than doubled in the past five years.
Earlier this year, Spotify said it would tighten spending and work to become efficient given the tough macroeconomic backdrop and projected the number of listeners would reach 500 million in the current quarter.
Features like autoplay for podcasts, personalized visual and audio previews of podcast episodes and audiobooks or music playlists, and new feeds for discovery will be rolled out in waves starting Wednesday, Spotify said.
(Reporting by Eva Mathews in Bengaluru; Editing by Maju Samuel)
Spotify is a digital music streaming service that allows users to listen to millions of songs and podcasts. It offers both free and premium subscription options.
Music royalties are payments made to artists, songwriters, and producers for the use of their music. These payments can come from various sources, including streaming services, radio, and live performances.
A monthly active listener refers to a user who engages with a music or audio streaming service at least once within a month. This metric is often used to gauge the popularity and reach of the platform.
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