Spotify plans to release on over 80 more countries

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Audio streaming service Spotify is likely to practically double its geographic footprint and start into 85 more countries, adding 36 languages to its platform in the process.

The Swedish firm announced the intercontinental expansion on Tuesday at a livestreaming event that presented Justin Bieber, Prince Harry and Meghan Markle.

Spotify said the growth into developing countries around Asia, Africa, the Pacific and the Caribbean will enable an additional billion persons to use its program.

In the next couple of days, Spotify will launch in countries including Nigeria, Tanzania, Ghana, Bangladesh, Pakistan, Sri Lanka, Bhutan, Samoa, Jamaica, Bahamas, and Belize.

“These movements represent Spotify’s broadest marketplace expansion to time,” Spotify said. Following expansion, Spotify will be accessible in over 170 countries.

Spotify launched in 2008 only a year following the first iPhone premiered, and it possesses amassed 345 million regular active users across 95 countries. Of these, 155 million are superior paying subscribers.

While Spotify started out as a music streaming program, it now allows people to listen to podcasts, audio literature and meditations. Spotify expenses $9.99 for access to its “Premium” service.

The Stockholm-headquartered firm has spent vast sums of dollars to secure exclusive podcast series including a new show from Barack and Michelle Obama that will feature Bruce Springsteen.

Competition with tech giants
Spotify faces stiff competition from Apple, Amazon and Google, that have launched their own music streaming services recently.

The company’s biggest competitor is arguably Apple Music, and Spotify is involved in a bitter antitrust dispute with iPhone maker. Spotify doesn’t think it’s fair that it must fork out Apple a commission, or what it sees as a “taxes,” when users subscribe and purchase its assistance via Apple’s App Shop. It filed a complaint to the European Commission in March 2019 and a probe can be ongoing.

Spotify’s share selling price was down 4% to $350 on Mon and it fell another 0.5% to $348 in after-hours trading.
Source: https://www.cnbc.com

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