Spotify is a very popular music streaming service, boasting over 24 million users which it gained in a short span of one and a half years. Launched in the U.S. Spotify is the fastest growing digital music company and out of those 24 million users, 6 million have paid subscriptions. Currently only available in 20 markets, no doubt expanding its services around the globe is a vital goal for Spotify. A person “familiar with the situation” claims that Spotify is going to add eight new markets, which include territories such as Singapore, Malaysia, Hong Kong, Iceland, the Baltics and Mexico. In these new markets, Spotify’s services on both PCs and mobile devices will be in the local languages.
With competition from big companies with big pocketbooks, such as Apple, Amazon and Google, Spotify has been working really hard to establish more ground for itself. Brand building campaigns are being run, these include Spotify’s first TV campaign which started last month and it’s advertisements on YouTube. The only caveat in entering new markets when you’re in the digital music business is that every market has its own set of rules and regulations. Negotiations must be made while keeping them in mind, which end up slowing down expansion. No word as yet regarding when the expansion will begin, probably in the near future.
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