iPhone Spotify app.
Fabian Somer | Image Alliance | Getty Images
Audio streaming service Spotify Plans to nearly double its geographic footprint, launch services in 85 more countries, and add 36 languages to its platform in the process.
The Swedish company announced its international expansion on Tuesday at a livestreaming event featuring Justin Bieber, Prince Harry and Megan Markle.
Spotify said the expansion to countries primarily seen as developing countries in Asia, Africa, the Pacific and the Caribbean will make the platform available to an additional billion people.
In the coming days, Spotify will be available in countries such as Nigeria, Tanzania, Ghana, Bangladesh, Pakistan, Sri Lanka, Bhutan, Samoa, Jamaica, Bahamas and Belize.
“These moves represent Spotify’s widest market expansion to date,” says Spotify. After expansion, Spotify will be available in more than 170 countries.
Spotify was launched in 2008, just a year after the first iPhone was released, and attracts 345 million monthly active users in 95 countries. Of these, 155 million are premium paying subscribers.
Spotify started out as a music streaming platform, but now you can listen to podcasts, audiobooks and meditation.
The Stockholm-based company has spent hundreds of millions of dollars securing an exclusive podcast series that includes a new show by Barak and Michelle Obama featuring Bruce Springsteen.
The company’s biggest competitor is arguably Apple Music, and Spotify is involved in a fierce antitrust dispute with Apple. Spotify believes it’s unfair to have to pay Apple a fee, or what is considered a “tax,” when a user subscribes to and pays for a service through Apple’s App Store. A complaint was filed with the European Commission in March 2019 and an investigation is underway.
Spotify’s share price fell 4% to $ 350 on Monday, and after-hours trading fell another 0.5% to $ 348.
Spotify will be available in more than 80 countries
Source link Spotify will be available in more than 80 countries