Communications in Humanities Research ISSN: 2753-7072
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Research Article

The Analysis of the Future Hold of Spotify Technology S.A.

Xinyi WeiUniversity of Nottingham Ningbo*

* Corresponding author: [email protected]

Abstract

Spotify Technology S.A. is a leading music streaming service that boasts over 200 million users worldwide. Hence, this study is aiming to address the question of why Spotify can dominate in such scale of users. This paper first explores the company's background, it will analyze its current strategies, and why it is poised to dominate the market in the future. Moreover, it will elaborate Spotify's unique resources, capabilities, and commitment to innovation that set it apart in the highly competitive music streaming industry. This paper has found three factors that contribute to Spotify's success through an approach of market research: collaborating with many artists to attract new users, offering users both free and paid services to allow users to choose the right program for them, and Spotify's choice of algorithms to push songs to users to improve the quality of the service. The article points out that Spotify's success isn't just in its strategy, but that its diverse content such as podcasts and high cross-platform compatibility are also essential to continued success.

Keywords: Spotify; music streaming; future dominance; personalized recommendations; innovation
Published: March 1, 2024
DOI: 10.54254/2753-7064/27/20231723
Volume: CHR Vol.27
pp. 266-270
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