Spotify’s second Stream On event took place recently, attracting artists, podcasters, songwriters, video and content creators from all over the world. During the event, new tools and resources were announced, and participants shared inspiring stories and hands-on demos. Daniel Ek, Spotify’s CEO, opened the event by sharing how Spotify continues to improve the platform to meet creators’ needs and help them chart new pathways to success. He also discussed the importance of creativity, discovery, and personalization in the music industry.
The new Spotify experience will be rolling out gradually, and Nigeria is one of the countries that can expect to see some changes. With Smart Shuffle, users can add new music that complements their playlists with a single tap. Creators can now choose or have Spotify generate previews of their music or podcasts for users to sample before they play or save. Additionally, Autoplay for Podcasts will be available, so when a podcast ends, another episode automatically starts playing based on the user’s preferences.
Spotify for Artists tools were showcased at Stream On, demonstrating how they help artists find fans who will love their music. Spotify also revealed the next revenue line for artists to grow, including merchandise and live events. The Fans First program will be expanded to ensure top listeners receive emails and notifications that give them access to exclusive concert pre-sales and merchandise.
Spotify for Podcasters will bring together the best of Spotify’s podcast creator tools into a one-stop-shop for managing and monetizing podcast content. All Spotify for Podcasters users will have access to Q&A and Poll functionality in their dashboards, including those not hosting their content on Spotify.
New and expanded Spotify Originals and Exclusives were also announced, including The Riddler: Secrets in the Dark, a podcast series produced in collaboration with DC Comics.
Finally, Spotify shared its annual music royalties report, Loud & Clear, which shows that more artists are finding success than ever before. The number of artists generating $1M+ and those generating $10,000+ has more than doubled over the past five years. Spotify pays nearly 70% of every dollar it generates back to the music industry. All-time payouts to music rights holders are approaching $30 billion.
In conclusion, the Stream On event highlighted Spotify’s continued commitment to the music industry and its creators. The new tools and resources announced at the event will provide artists, podcasters, and other creators with new ways to connect with their audiences and monetize their content.