New record broken for Spotify. The world’s number one audio streaming platform recently passed the 500 million user milestone. “Spotify remains very much the world leader in streaming audio,” welcomed Antoine Monin, Managing Director of Spotify France & Benelux, on the Tech&Co set.
A success that adds to another recently broken record: Spotify has become the first audio streaming application to cross the barrier of 200 million paying subscribers, precisely 205 million. And this despite the lag of France in music streaming compared to other countries such as the United States.
“But France is catching up in terms of adoption rates,” notes Antoine Monin. Subscription music streaming revenue increased by 11% in France between 2021 and 2022, according to the latest report from the Syndicat national de l’édition phonographique. “The music market is in the process of rebuilding the turnover of the great years of the CD”, applauds Antoine Monin, who recalls that Spotify donates 70% of its income to the music industry.
TikTok Competition
Despite this generally positive background, Spotify is not immune to criticism from many artists, who accuse the platform of offering too low a pay-per-listen. “At the time of the CD, there were very few elected officials who were distributed and who had the opportunity to be discovered”, defended Antoine Monin.
Antoine Monin adds that the platform is developing tools to make it easier for artists to sell concert tickets and other derivative products, thus promoting a virtuous circle.
Spotify isn’t immune to difficulties plaguing all platforms, from consequent layoffs to massive competition from TikTok. The streaming platform has also announced that it will soon have a facelift: the app will soon sport a completely revised design heavily inspired by TikTok that will give video much more space, with a vertical thread where clips of your favorites will scroll. music or podcasts. A change that should help you reach your new goal: 1 billion users by 2030.
Source: BFM TV
