“It’s great that Apple is in the game.”

That from Jonathan Forster, a Spotify vice president. The Swedish company has credited Apple Music — nearly a year old and with 13 million subscribers — with attracting new ears to streaming and helping the ecosystem grow in general.

“Since Apple Music started we’ve been growing quicker and adding more users than before.”

But for Spotify itself to thrive it’s going to need to not just compete in the virtual sphere, but in real life, too.

With 100 million users, 30 million of them paying members, Spotify is the undisputed giant in the industry. But Forster, as interviewed by Reuters, said that it’ll take new investments in “areas that are relevant or adjacent to our business,” like live events, merchandising and video — Spotify today began providing exclusive video content showing artists behind the scenes.

Acquisitions are a possibility — either Spotify acquiring a competing service or being swallowed up by a larger tech conglomerate.

“My Internet history would tell me that there’s probably not going to be that many significant players,” Forster said. He later also stated that “I’ve always felt Spotify likes being Spotify. We have fought to get to where we are today and we are quite happy and it would be emotionally hard not to be us, but who knows?”

Spotify has taken out $1 billion of convertible debt to support its road forward.

Source: Reuters

You May Also Like

Samsung Galaxy Chromebook is now on sale from Best Buy and Samsung’s website

Samsung Galaxy Chromebook is powered by the 10th Gen Intel Core i5 processor and packs a 13.3-inch 4K Super AMOLED display.
Honor 30s

HONOR Play 4T launches on April 9 followed by HONOR 30 and HONOR 30 Pro on April 15

The HONOR 30 duo will be company’s flagship devices for 2020.

A new report says that 5G iPhone lineup is still on scheduled for fall

New reports suggest the new 5G iPhone lineup is still scheduled for September, even though that may also delay future Apple devices