Spotify’s new offerings will soon expand, as the app plans to include live concert videos, music festivals, ticket purchases, and streaming services.  

The app will become a direct bridge between musicians and their fans, who currently have to contend with high ticket prices. To address this, Spotify Reserved was recently announced, “which allows the automatic reservation of two tickets for superfans or the most dedicated Premium users before they go on general sale.”

Now, the platform is focusing on live concerts. This is not simply an expansion of the content available to users with their free or Premium accounts. It’s more a matter of the “benefits this audiovisual format offers through advertising, which skyrocket in profits compared to those obtained from audio.”

Spotify wants to become a one-stop shop or “comprehensive platform for music fans. Currently, it has more than 700 million users, who primarily use the platform to listen to music.”

M.Pino

Source: infobae

(Reference image source: Reet Talreja on Unsplash)

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Netflix is considering new payment options on its platform, which will be directed to its video games section and where it expects to charge for access to more sophisticated titles it currently develops, as well as incorporate transactions and purchases within them.

Currently, less than 1% of Netflix subscribers worldwide use the video game service on a daily babsis, according to a study by the market intelligence platform Apptopia, collected by CNBC.

Despite this low popularity, the company plans to make a profit from this format, as it is currently working on titles related to the films and series it offers on its platform, since it considers them a “huge growth opportunity”, as it commented in October 2023.

It also hopes to increase its earnings with proposals such as including purchases within this section, charging for access to more sophisticated games it is developing, or providing subscribers with a new level of advertising.

This was confirmed by sources close to the company to The Wall Street Journal, which insisted that the company’s management is currently considering these and other monetization alternatives.

K. Tovar

Source: Infobae

(Reference image source: sippakorn yamkasikorn, Unsplash)

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