One of the most popular streaming platforms, Spotify, is set to launch in 85 new markets. This means that Spotify will bring their services to at least more than 1,000,000,000 people more. Most of the new markets will be situated in developing countries in Africa, the Pacific, Asia, and the Caribbean. This news came through a live-streaming event that featured Prince Harry, Meghan Markle, and the songster Justin Bieber.
In addition to this range, Spotify also made announcements regarding a higher sound-quality subscription service. Also, they further announced a new advertising marketplace for podcasts. Some of their targeted locations are Pakistan, Bangladesh, and Nigeria. These three countries have the fastest growing internet populations as far as the world is concerned.
Spotify has been hesitant about raising its subscription prices because of high competition. As noted by Andrew Milroy, Spotify faces a significant threat from Amazon, Apple, and Google because they seek to expand their horizons and explore localization in the various markets they operate in. Hopefully, with this intended move to launch in over 80 new markets, Spotify hopes for the best.