Spotify listeners cross half a billion mark

Spotify Technology SA mentioned on Wednesday it will roll out new options like sensible shuffle and previews of podcasts and music playlists on its audio streaming platform, because it crossed 500 million in month-to-month energetic listeners.

The Swedish firm, which has invested closely in increase its podcast and audiobooks business lately in a bid to draw customers and advertisers, introduced the “new re-imagined user interface” at its Stream On occasion.

Spotify additionally shared an replace to its annual music royalties report, noting that the variety of artists making over US$1 million in addition to these producing over $10,000 had greater than doubled previously 5 years.

Earlier this 12 months, Spotify mentioned it will tighten spending and work to grow to be environment friendly given the powerful macroeconomic backdrop and projected the variety of listeners would attain 500 million within the present quarter.

Features like autoplay for podcasts, customized visible and audio previews of podcast episodes and audiobooks or music playlists, and new feeds for discovery can be rolled out in waves beginning Wednesday, Spotify mentioned.

(Reporting by Eva Mathews in Bengaluru; Editing by Maju Samuel)