Why Spotify is going to stay, and we will see a pretty exciting IPO
When it comes to music, I mean business. Serious business. I don’t really like commercials or moderators interrupting my flow and I am annoyed when I have to skip multiple songs at a time. Music keeps my day going and that’s why I have tested just about every music app on the market. You name it, I’ve tried it.
About three years or so ago I dove head first into Spotify. I had tried every other available music player and there were quirks about them that I just couldn't get over. But Spotify...Spotify just clicked for me, and since I first tried it out we've had what I would consider a very steady relationship. It gives me the music I love – and they get the same love back from me.
A lot Love Spotify
Apparently, I am not the only one who has been having a steady relationship with Spotify. According to some recent data there are over 100 million users who use a Spotify account every month, and over 71 million of those users have upgraded to a paid version. Numbers like that don't lie and they couldn't even if they tried. My guess is that the number of accounts and the number of paid users can be directly attributed to the number of songs and playlists that are available in the app. You see, as an account holder, you have access to over 35 million songs and 2 billion playlists. Compare that to Pandora's roughly 2 million songs, and it's clear to see that there is no competition.
Songs, Songs, and More Songs
Even better than the number of songs is the fact that Spotify is always keeping it fresh. The app constantly updates with the newest and best songs available to keep users listening and entertained. You can listen while at work, while you work out, while you sit on the couch, while you are on the longest road trip of your life, or, when you can’t sleep in the middle of the night. It seems that no matter when you need it Spotify is always there ready to give you the music you need to get you through the day.
Features You Can’t Live Without
There are times I swear Spotify knows me better than I know myself. With my account I can fully customize my own playlists. It also recommends songs that I never would have found on my own, but love. Of course, I upgraded to the premium version for some of those features, but it's totally worth it. Worth it enough for 71 million other people to do the same thing. Another perk of the premium account is that it’s completely no hassle and you can cancel anytime. But, don't worry about that because Spotify is so good that you won't need to.
The Future of Spotify
I have a feeling that this app isn’t going anywhere soon and with time it’s only going to get better. Why? The user experience has always been outstanding. In addition to that it seems they have updated their analytics and algorithms in the last weeks. The other day I listened to a personalized playlist artificial intelligence put together for me recommending the latest songs released I probably liked. While I normally save a curated song just once in a while to my personal playlist since some time I save 30 to 50%. This means Spotify really know what I like – out of millions of songs. Considering the debates on social media it seems that Spotify that I am not the only one excited about this ability. If a digital product and service is able to relieve a user of true pain - in this case delivering the right music, to the right people at the right time - without commercials, moderators or any other disturbance, it can go far.
In my view Spotify - due to it's success and AI driven capabilities - has the ability to play an important part in the music and entertainment world. Currently, the app has expanded from it’s musical roots and taken on podcasting. This is great news for the future of Spotify because a lot people love a good podcast and they seem to have them all. Plus, Spotify makes it simple for everyday people to get noticed by having open submissions for podcasts on their website.
Spotify goes IPO
In an article released on March 15, 2018 by CNet it was stated that Spotify plans to launch its IPO on April 3. That’s right people, Spotify is going public! All the musical genius and goodness that is wrapped up in one online player will be available so we all can get a piece of the pie. To put things in perspective, the article also stated that Spotify is twice the size of Apple Music. This kind of data tells me that the up to $1 Billion in shares that the company is going to be listing will be hot.
So, if you love music and you are ready to ride the coattails of a great company with a promising future.
*I have no affiliation with Spotify. I just love them. Robin Kiera