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News on Medial
Spotify to use Google's AI to tailor podcasts, audiobooks recommendations
Economic Times
·
1y ago
Medial
Spotify is planning to leverage Google's AI technology to enhance its recommendation system for podcasts and audiobooks. By using AI algorithms, Spotify aims to personalize content suggestions based on a user's preferences, listening history, and behavior. This collaboration will enable Spotify to deliver more tailored and relevant recommendations to its users, further enhancing the user experience.
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Spotify names senior Saab executive Christian Luiga as finance chief
Economic Times
·
1y ago
Medial
Spotify has appointed Christian Luiga as its new CFO, replacing Paul Vogel. Luiga, a former executive at Saab, will join in the third quarter. Until then, Ben Kung will serve as the interim CFO. This move comes as Spotify looks to improve profitability by increasing prices and expanding into podcasts and audiobooks. Saab announced that Luiga has a notice period of six months and will stay until October 3rd.
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Spotify is reportedly going to get more expensive later this year
Business Insider
·
1y ago
Medial
Spotify is planning to increase prices in certain markets, including the UK, Australia, and Pakistan, by $1 to $2. They are also working on new tier offerings, including a basic plan for music and podcasts at $11 a month, with additional charges for audiobooks. Another plan in development is a higher-priced option with features like high-fidelity audio. This comes as Spotify aims to improve profitability due to high licensing costs and investments in podcasts, such as the multiyear deal with the "Joe Rogan Experience". Competitors like Apple Music and YouTube Premium have also raised prices in recent years.
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Spotify to test full music videos in potential YouTube faceoff
Economic Times
·
1y ago
Medial
Spotify is testing full-length music videos for premium subscribers in a limited beta launch, stepping into YouTube's territory. The feature will be available to premium users in select countries, including the UK, Germany, Italy, and Brazil. Spotify aims to reach 1 billion users by 2030 but faces competition from YouTube and Apple Music. The music streaming company had previously introduced short video clips for artists. Spotify has been expanding its services to include podcasts and audiobooks to attract more users. As of February, it anticipated having 239 million premium subscribers in the current quarter.
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Spotify adds video learning courses in latest experiment
The Verge
·
1y ago
Medial
Streaming service Spotify is launching an experiment in the UK, offering video-based online courses alongside its music, podcasts, and audiobooks. Four course providers, including BBC Maestro and Skillshare, will offer content ranging from music production to business skills. The courses will be accessible on mobile and desktop platforms within the Spotify app, and users will have access to at least two lessons for free, with full access available for a fee. Spotify is aiming to tap into the growing trend of users seeking educational content on its platform.
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Spotify launches a $9.99/mo standalone audiobooks service for its free users
TechCrunch
·
1y ago
Medial
Spotify is introducing an "Audiobooks Access Tier" for its free users in the US, allowing them to stream 15 hours of audiobooks from its collection of over 200,000 titles for a monthly fee of $9.99. This move by Spotify could potentially upsell audiobooks to customers who aren't as interested in its music service, as well as offer an alternative to Audible's subscription model. Since launching audiobooks for its premium subscribers, Spotify has seen a 45% increase in free users searching for and interacting with audiobook content.
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Spotify's monthly user growth, subscribers beat expectations
Reuters
·
1y ago
Medial
Music streaming platform Spotify reported strong fourth-quarter performance, with monthly active users and premium subscribers surpassing expectations. The company’s user base increased by 23% to 602 million, while premium subscribers grew by 15% to 236 million. Spotify aims to reach 1 billion users by 2030 and has expanded into podcasts and audiobooks. Despite positive trends, Spotify's first-quarter forecast for total users and revenue came in below Wall Street expectations. The company posted a fourth-quarter operating loss of €75 million, reduced from €231 million in the same period the previous year.
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Spotify’s new audiobook tier will only save you a dollar over Premium
The Verge
·
1y ago
Medial
Spotify has introduced a new subscription tier aimed at book lovers, offering 15 free listening hours of audiobooks for $9.99 per month. However, compared to the classic Premium plan, which costs $10.99, the audiobook plan provides fewer benefits. Premium subscribers not only get the same number of audiobook hours but also enjoy ad-free music and podcasts. Moreover, the new tier does not offer any additional perks for readers and has a cap on listening limits. This move by Spotify has sparked controversy in the publishing industry, particularly surrounding compensation for authors.
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These are Elon Musk's top podcasts
Business Insider
·
1y ago
Medial
Elon Musk recently shared some of his favorite podcasts and audiobooks in a livestream. He mentioned enjoying history podcasts, specifically recommending "Explorers Podcast" and "The Age of Napoleon Podcast." Musk also highly recommended "Hardcore History" by Dan Carlin. In terms of audiobooks, he mentioned enjoying "The Story of Civilization" by Will and Ariel Durant and the Penguin edition of "The Iliad." Musk has previously recommended various books, including sci-fi novels and books on artificial intelligence.
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Streaming music is a brutal business. Just ask Spotify.
Business Insider
·
1y ago
Medial
According to a report by The Wall Street Journal, Spotify's attempts to expand beyond music streaming have failed. The company had ventured into podcasts, concert tickets, super-high-end audio, and audiobooks, but none of these endeavors proved successful. The report highlights the difficulty in making money in the streaming music business, with Spotify facing high costs due to its licensing agreements with music labels. Despite these challenges, investors remain optimistic about Spotify's future, and the company continues to rely on its partnership with major music labels to ensure its success.
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Spotify tests voice translation feature for podcasts
Economic Times
·
1y ago
Medial
Spotify is testing an AI-powered feature to translate podcasts, including those by Dax Shepard and Lex Fridman, into multiple languages. This initiative aims to tap into generative AI technology, potentially attracting new users and increasing revenue. Spotify collaborates with Microsoft-backed OpenAI for voice generation to offer natural-sounding translations mimicking the original speaker's style. Initially available in languages like Spanish, French, and German for select catalog episodes, this feature could expand podcast audiences. Despite investing heavily in podcasts, Spotify's operating expenditure outpaced revenue growth last year.
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