At the Spotify Stream On online event, it announced a round of updates that will benefit the popular music streaming service on both the customer and business fronts.
The new Spotify features and changes include various things such as a higher Spotify audio quality option, market expansion, and new tools for creators. So, without any further wait, let’s explore them.
1. New Spotify HiFi Lossless Streaming For Audiophiles
The current 320kbps Very High streaming quality on Spotify already gives most of us a great music experience. But will Spotify offer lossless? Yes. It’s now gearing up to target more passionate listeners with a new HiFi tier that will offer CD-quality lossless audio.
Once that happens, it will give Spotify an edge over its arch-rival Apple Music. As of now, Tidal and Amazon Music are among the few music streaming services that offer lossless audio.
Spotify HiFi lossless support is expected to arrive later this year in select markets for premium users. Pricing details are not known at the time of writing. Users will be able to play higher-quality music on their devices as well as on Spotify Connect-enabled speakers.
2. Spotify is coming to new places
Expansion is surely one of the keys to success for any company as it brings in more users to the party. Spotify has announced that it’ll be spreading its operations in 80+ new markets, catering to over 1 billion new users and adding support for 36 new languages.
The list of Spotify countries includes many Asian and African nations like Sri Lanka, Pakistan, Nigeria, Ghana, Madagascar, etc., and Spotify will cross 170 markets post the expansion. Spotify said it will bring its entire global music catalog to new markets at the time of its launch.
3. More cash via Spotify Audience Network
The Swedish audio streaming giant has come up with a new in-house ad network which goes by the name of Spotify Audience Network, it announced during the Stream On event.
The new platform will allow advertisers to reach a wider audience and promote their stuff through Spotify’s Originals & Exclusives, ad-supported music, and podcasts via Megaphone and Anchor. The company will share more information in the coming months as the new audio advertising marketplace is currently in the early stages of development.
Additionally, it’s also introducing podcasts to its self-serving platform Spotify Ad Studio, giving podcast creators a new opportunity to earn money.
4. More tools for Spotify creators
Speaking more on creator updates, Spotify unveiled that it has expanded Canvas to all artists; these are looping visuals that creators can add to their music.
The Marque music recommendation tool is also getting an expansion. It’s a self-serving experience that lets artists push sponsored music recommendations in front of both paid and free subscribers; an attempt to attract more potential listeners. It will be arriving in the US and reach the UK, Australia, Ireland, and New Zealand in the coming months.
Spotify is also working on a new tool called Discovery Mode which’s currently in beta testing. According to the company, the tool “gives artist teams a say in our algorithmic recommendations.”
Clearly, podcasts are Spotify’s biggest focus right now. It plans to bring various interactive tools, like polls and Q&A’s, allowing creators to engage with the audience in real-time. The music giant is also working on its ML algorithms to improve content discovery, allowing users to search podcasts by topic and theme.
So, these are some features and changes Spotify will add in the coming future. Let’s wait to see how the new lossless audio experience comes into play and competes with rivals.