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Hello and happy Friday! It’s week #3 in the always-exciting world of the Spotify Newsletter, and here are the stories that caught our attention about the popular music streaming platform.
Spotify released earnings on Wed., which we covered with a quick round-up of links. And yet… we have so much more to share.
🕵️♂️ In the SPOTlight:
While Spotify’s 2020 first-quarter report would have been mixed under normal circumstances, CEO/cofounder Daniel Ek and CFO Paul Vogel were downright enthusiastic at times during the company’s earnings call Wednesday morning, reflecting that the world’s biggest music-streaming service has been less impacted by the coronavirus pandemic and the ensuing lockdown than it might have been.
While Spotify did not a Netflix-sized bump in recent weeks, the company added 6 million subscribers and its total revenue of $2.0 grew 22% year-over-year during the first quarter, roughly in line with its projections.
Asked whether the company plans to raise its subscription rates, he said, “Our primary strategy is growth rather than maximizing revenue, and that’s because we see this amazing opportunity of moving people from radio to on-demand audio.”
🎵 Why Netflix Should Buy Spotify Right Now
With this major boost to revenue in a historic and chaotic downturn, the real challenge will be to make this momentum last while they have it.
🎵 How Spotify Is Addressing COVID-19, On-Platform and Off
Since the onset of the COVID-19 pandemic, we’ve been identifying ways that Spotify can help make an impact around the world. Spotify has always been focused on creating connections between artists and their fans, using music and podcasts to help break down barriers and build stronger communities. That community of support has never been more important.
Did the CIA write Scorpions’ hit song Wind of Change? This is the wild story of Spotify’s latest original podcast documentary series.
The audio platform has teamed up with New Yorker investigative journalist Patrick Radden Keefe, Pod Save America producer Crooked Media and Missing Richard Simmons producer Pineapple Street Studios for Wind of Change.
🔥 Even more hot news links
Spotify Finally Adds ‘This American Life’ to Podcast Lineup
Spotify launches a Daily Wellness mix to fuel your self-care routines
You can find out how alternative your Spotify listening habits are
Spotify Now Allows Artists To Raise Funds Directly, And That’s The Dilemma
Spotify’s music podcast Dissect returns with Beyoncé focus
Spotify’s new “tip jar” won’t save the industry – but it asks us to consider music’s value
'The Last Dance' songs: Playlist for Michael Jordan documentary released on Spotify
Spotify’s coronavirus Music Relief Program offers huge support for Aus artists
Spotify Sees Surge Of Streaming On TV, Game Consoles
🎶 And now… a little music
Here we are - episode 3 of ‘New Adventures in Spotify,’ our musical road trip across the Spotify platform, digging up deep tracks, popular tunes, hidden gems, vintage favorites and new releases.
What a first four we have this week: Lloyd Cole and the Commotions (@Lloyd_Cole), Squeeze (@Squeezeofficial), Nick Lowe (nicklowe.com) and Tennis (@TennisInc).
Then we slide into cool tunes from Guy Clark, The Fixx, Allman Brothers, Grace Jones, Talking Heads, Geraint Watkins, Lyle Lovett, Sting, Res and many more.
Have a nice weekend!
- Jeff