According to reports, Spotify is “considering” expanding into the event, according to reports . The media reported that the company may sell tickets for virtual and live concerts because it hopes to diversify its business. However, making money from ticket sales is not necessarily Spotify’s short-term goal. Its more direct plan is to use them as a way to improve relations with artists.
information Shows that Spotify believes there is an opportunity to use the data it has to help musicians plan successful concerts in places that most promoters avoid. In this way, the company is said to believe that it can better showcase to artists who have invested in their careers. This is also a way for it to distinguish its platform from Apple Music.
Spotify has been involved in live events.Last spring, the company It features artists such as The Black Keys and Leon Bridges. It sells tickets for these performances for $15 each. information Reporting the results of these concerts “verified” Spotify’s idea of what future events can do for it, and it has been thinking about the next step ever since. Of course, we will not say that the expansion is complete. For music streaming platforms, selling concert tickets may make sense, but it still represents a huge business transformation for Spotify.
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