Supply of new podcast content fell by roughly 20% as a result of the pandemic. The negative impact has been greater for podcasts - an area of increased investment over the past year for the Swedish company, which views long-form episodic audio as a way to boost engagement - than for music, Spotify said in its first-quarter earnings report on April 29. This drop was offset by 50% year-over-year audience growth on TV and video game consoles, in particular for the free, ad-supported service. Fans may choose what to listen to based on their current mood or preference, and the ability to share such content provides an element of social connectivity ordinarily reserved for networking sites.Spotify Technology SA said that COVID-19 has 'dramatically' changed the way users interact with its music streaming service, with lockdowns causing a double-digit drop in in-car and morning commute listening during the first quarter of 2020 as people work from home.Įngagement via wearables, such as smartwatches, and the web were also down by up to double-digits in some cases. Part of Spotify’s appeal can be attributed to the user- and brand-curated playlists, which can be shared publicly or between friends. launch was strongly marketed through Facebook, with the music streaming app profiting from the social listening integration via social media.

Launched in 2008, Spotify originated in Sweden before expanding to European markets and the United States in 2011. At the end of 2019, the company announced 124 million paying subscribers. Basic audio content can be accessed for free whereas premium user subscriptions enable users to access offline mobile content as well as listen to music without advertising. Spotify is a music streaming service that offers digital audio content. This marked an increase of over 60 million in just one year. In the second quarter of 2022, music streaming service Spotify reported 433 million active users worldwide.

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