Description
Spotify Technology SA announced Wednesday that it will roll out new features like smart shuffling and previews of podcasts and music playlists to its streaming audio platform as it surpasses 500 million monthly active listeners. The Swedish company, which has invested heavily in growing its podcast and audiobook business in recent years in an effort to attract users and advertisers, announced the "new reimagined user interface" at its Stream On event. . Spotify also shared an update to its annual music royalty report, noting that the number of artists earning more than $1 million, as well as those bringing in more than $10,000, have more than doubled in the last five years.
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Earlier this year, Spotify said it would adjust spending and strive to be efficient given the difficult macroeconomic environment, forecasting viewership to hit 500 million in the current quarter.
Features like autoplay of podcasts, personalized audio and visual previews of podcast episodes and audiobooks or music playlists, and new discovery streams will roll out in waves starting Wednesday, Spotify said.
