Spotify is transitioning and not just via their podcast investments.
They are starting to enter the world of advertising and arming artists with tools to reach audiences, at a price.
First via Marquee mode – mobile app pop ups to advertise new releases. These see 20% conversion rates, 2.2x lift on saved/playlisted tracks which itself leads to increased playing by 250%.
Second via a new Discovery mode – where an artist can boost a track in Spotify’s algorithm in return for a lower take.
Interesting post covers the logic behind this as well as price increases.
