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Spotify: Product Developments: Difference between revisions
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See also: [https://forum.investmentwiki.org/t/spotify-product-developments/179 Discussions] | See also: [https://forum.investmentwiki.org/t/spotify-product-developments/179 Discussions] | ||
=== | === October, 2023 === | ||
October 24, 2023: According to Music Business Worlwide (MBW), Spotify plans to come up with a '''new royalty payment model''' in Q1 2024 that would see migration of USD $1 billion to ‘legitimate’ artists and rightsholders in the next 5 years through the following ways<ref>https://www.musicbusinessworldwide.com/spotify-is-changing-its-royalty-model-to-crush-streaming-fraud/</ref>; | |||
* Introducing a minimum number of streams per year that must be reached by an artist before starting to earn royalties, a move that will demonetize 0.5% of Spotify's royalty pool, resulting to diversion of tens of millions of dollars to more popular artists. “ In aggregate, these tracks generate royalties that add up to tens of millions of dollars a year, and that number is only growing," a source told MBW. “Next year, without taking this action, Spotify thinks they would have generated around $40 million.” | |||
* Spotify will fine music distributors for fraudulent activity detected in their tracks. | |||
* Introducing a minimum length of play time for non-music content that must be reached in order to earn royalties. Currently non-music content earns royalty in every 31 second interval. | |||
“We’re always evaluating how we can best serve artists, and regularly discuss with partners ways to further platform integrity," Spotify spokesperson said when contacted for a response. “We do not have any news to share at this time.” | |||
October 17, 2023: Spotify launches a '''dedicated Merch Hub''' in its app.Previously, a merch could only be purchased from artist's profile. With the hub, users can access all the artists merch instead of having to browse from one artist to the other. The hub uses personalized recommendations based on your listening habits to march you with the artist merch<ref>https://newsroom.spotify.com/2023-10-16/shop-find-all-artist-merch-hub-spotify-app-shopify/</ref>. | October 17, 2023: Spotify launches a '''dedicated Merch Hub''' in its app.Previously, a merch could only be purchased from artist's profile. With the hub, users can access all the artists merch instead of having to browse from one artist to the other. The hub uses personalized recommendations based on your listening habits to march you with the artist merch<ref>https://newsroom.spotify.com/2023-10-16/shop-find-all-artist-merch-hub-spotify-app-shopify/</ref>. | ||
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October 3, 2023: Spotify said '''Premium subscribers will now have access to more than 150,000 audiobooks.''' As a start, Premium Individual, Family and Duo accounts will have 15 hours of audiobooks listening time per month. The feature will be rolled out today in the U.K. and Australia. U.S premium users will have access to it before the end of the year. Users who deplete their 15 hours listening time before the month ends can purchase additional 10 hours to finish their series. Spotify added that Premium users can also download the audiobooks for offline listening. The audiobooks will include 70% of the New Yorks Time best seller<ref>https://newsroom.spotify.com/2023-10-03/audiobooks-included-in-spotify-premium/</ref>. The Wall Street Journal had reported last month that Spotify was testing this feature and that it could offer up to 20 hours of free audiobooks per month<ref>https://www.investmentwiki.org/wiki/Spotify#Spotify_Audiobooks</ref>. | October 3, 2023: Spotify said '''Premium subscribers will now have access to more than 150,000 audiobooks.''' As a start, Premium Individual, Family and Duo accounts will have 15 hours of audiobooks listening time per month. The feature will be rolled out today in the U.K. and Australia. U.S premium users will have access to it before the end of the year. Users who deplete their 15 hours listening time before the month ends can purchase additional 10 hours to finish their series. Spotify added that Premium users can also download the audiobooks for offline listening. The audiobooks will include 70% of the New Yorks Time best seller<ref>https://newsroom.spotify.com/2023-10-03/audiobooks-included-in-spotify-premium/</ref>. The Wall Street Journal had reported last month that Spotify was testing this feature and that it could offer up to 20 hours of free audiobooks per month<ref>https://www.investmentwiki.org/wiki/Spotify#Spotify_Audiobooks</ref>. | ||
=== September, 2023 === | |||
September 29, 2023: Spotify introduces '''auto-generated time-synced transcripts to more podcast creators''' and shows. The company said it will rollout these transcripts to millions of episodes in the coming weeks. Additionally, Spotify wants to enable creators to add media to these transcripts in future. Spotify is also '''expanding podcast chapters to mobile users''', giving them more information about the episode they plan to listen to<ref>https://newsroom.spotify.com/2023-09-28/international-podcast-day-transcripts-chapters-show-pages-global/</ref>. | September 29, 2023: Spotify introduces '''auto-generated time-synced transcripts to more podcast creators''' and shows. The company said it will rollout these transcripts to millions of episodes in the coming weeks. Additionally, Spotify wants to enable creators to add media to these transcripts in future. Spotify is also '''expanding podcast chapters to mobile users''', giving them more information about the episode they plan to listen to<ref>https://newsroom.spotify.com/2023-09-28/international-podcast-day-transcripts-chapters-show-pages-global/</ref>. | ||