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Spotify targets 1 billion listeners by 2030 amid profitability concerns

Spotify Technology SA defended the company’s strategy on Wednesday and outlined plans to expand into new businesses to address investor fears that the opportunity to buy audio is limited.

In its first day as an investor since the streaming giant was launched four years ago, Spotify highlighted the loyalty of its hundreds of millions of listeners, its industry-leading music proposals and the success of its podcast unit. The company also pointed to its global expansion, its growing set of tools for creators and areas in which it intends to expand including audio books and eventually education, sports and news.

Spotify targets 1 billion listeners by 2030 amid profitability concerns

Source link Spotify targets 1 billion listeners by 2030 amid profitability concerns

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