Spotify has introduced new tools for artists and content creators, with a focus on video formats considered increasingly essential.
During an event, the Swedish-owned company also launched a revamp of the platform to offer a more interactive interface, in the wake of TikTok, with the ability to listen to song previews and provide more personalized recommendations using artificial intelligence.
Spotify said it surpassed 500 million monthly active users, including 205 million paying subscribers as of the end of 2022, with 10 million content creators.
With the revamp, Spotify explained it will make it easier for artists to sell merchandise and tickets to concerts and other live events.
They will also be able to add 30-second videos to their profile and record page to compete with clips posted on social networks like TikTok or Instagram, which "do not guarantee that audiences will go and hear the full song," the company stressed. .
"When we founded Spotify, the music industry was in free fall. So the fundamental question everyone was asking was: is the music industry doomed or could it be reinvented and still be a viable career for talented artists around the world? And now, more than 15 years later, we know the answer is yes. More and more artists are finding success through streaming."
Launched in 2006, the audio streaming platform quickly rose to popularity, but now struggles like all the tech bigwigs.
In January it announced a cut of almost 6% of its workforce to reduce costs, after posting a net loss of 430 million euros for 2022.
