Spotify to charge labels and artists for advertising services in bid to raise revenue

globenewswire | March 05, 2020

Spotify to charge labels and artists for advertising services in bid to raise revenue
Spotify has revealed plans to charge labels and artists for advertising services in a bid to raise revenue. Despite reporting a total revenue of $7.44 billion in 2019, Bloomberg reports that the streaming service will now be offering more advertising at a higher price. They already use one service, titled Marquee, which allows artists and labels to send notifications to fans when new music is released, for fees of upwards of $5000. Despite the total revenue, and Spotify's main business streaming generating $6.1 billion alone in sales last year, the company still continues to lose money because of the revenue going back to the music industry in the form of royalties.

Spotlight

The future of advertising is mobile, and the future of mobile is in emerging markets. By 2050, India will overtake the United States and become the second largest world economy, right behind China. 1 The number of smartphones sold in India the world’s second-largest smartphone market increased by 30% between 2015 and 2016. 2 Meanwhile, in the U.S., smartphone growth increase by only 3% over the same period of time.


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Spotlight

The future of advertising is mobile, and the future of mobile is in emerging markets. By 2050, India will overtake the United States and become the second largest world economy, right behind China. 1 The number of smartphones sold in India the world’s second-largest smartphone market increased by 30% between 2015 and 2016. 2 Meanwhile, in the U.S., smartphone growth increase by only 3% over the same period of time.

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