‘Spotify has lined up interesting innovations to excite listeners and brands during IPL’

Spotify Global Creative Director Richard Frankel and Spotify India Head of Sales Arjun Kolady spoke to e4m about the Swedish audio streaming giant’s challenges and expansion plans in India.

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Kanchan Srivastava

Published – March 17, 2023 at 8:39 am

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Music streaming platform after a four-year journey in India Spotify decided to expand its operations and advertising business through one of the most important markets in the world, the Indian Premier League (IPL) route.

“There are some very interesting creative solutions and innovations lined up to excite listeners and brands during the IPL. Spotify‘s IPL offering. However, it did not disclose details about these products.

The company’s global creative director, Richard Frankel, visited India last month. Spotify India celebrates its 4th anniversary. He shared a company-funded study, “Sonic Science 2.0.” The study claims that audio is one of the most effective media in terms of memorization value.The study also found that the brand effectiveness of advertising was 19% higher for him. Spotify compared to all other media.

Spotifybiased toward Generation Z.

With increasing internet access, smartphone usage and online commerce in India, Spotify believes there is great opportunity for growth. The company hopes to double the number of trading users in India from 350 million today to 700 million by 2030.

40% or more Spotify Users are premium members who drive most of your business. However, due to financial constraints, premium memberships have not grown at the same rate as in recent years.

To win more young consumers, especially Bharat consumers, Spotify recently launched UPI for subscriptions and free trials. Previously, only users with a debit or credit card could access the free trial.

Spotify recently announced new features for creators and fans.

Frankel and Kolady shared insights on the company’s trip to India, expansion plans and challenges.

About assignments

Arjun: The past four years have been an incredible journey to leadership in the Indian market.

On the advertising side, we have worked with over 300 brands, including media and entertainment brands, FMCG companies, technology companies and device manufacturers, fintechs and travel aggregators. We have won several awards, grown our team and built strong partnerships with our clients and agency partners.

However, there is still much work to be done. Digital audio advertising is still an emerging field and our responsibility as market leader is to help the ecosystem move forward. We continue to double down on audio evangelism, education and inspiration.

Richard: Being the biggest audio streaming service is not a qualification. Reward! And it is something that must be earned every day. We must remain focused on making sure each listener in India feels that we are a reliable and capable audio companion as they use our platform to soundtrack their lives. As we continue to focus on music fans and audio consumers, we are able to build the moments, moods and mindsets that animate their lives.

Extended

Arjun: We want to put audio in its rightful place in the media landscape, especially given the fact that more time is spent on audio than video streaming, gaming, news, etc. , technology, fast-moving consumer goods and more, bringing more advanced measurement and creative solutions to India this year.

And finally, we want to continue helping drive innovation and accountability through programmatic and automation.

Richard: This is a nice, wide open question, so I’m not sure if this answer addresses the exact area you’re asking, but it got me thinking about growth and how I’ve been managing it. The first is to always try to stay relevant locally as well as globally.

We may slow down market expansion to ensure we release the expected repertoire and language in all markets. We also want to spend as much time as possible building loyalty with our audience and listeners before we ask advertisers to participate in listener interactions. It’s not just about achieving scale. Implementing these concepts to manage expansion creates more trust and brand love for all partners, creating long-term opportunities.

About the IPL offering

Arjun: The excitement around the IPL is growing and we are helping our partners understand how best to take advantage of it. Spotify As part of a media mix.

Although the actual viewing of the match will not take place Spotifywe own the build-up to the game and the post-game celebration – across phones, smart TVs, cars, watches, game consoles and home speakers.

There was a 113% increase in cricket-related streams last year. Spotify during the competition. According to GWI, 77% Spotify Free users are cricket fans, with 67% following the IPL.Not only that, but 22% of cricket fans Spotify 71% of cricket fans have participated in a fantasy sport Spotifyuse digital payments.

We have some very interesting creative solutions and innovations that will excite listeners and brands during the tournament.

About innovation

Richard: Spotify is currently working on an AI-enabled DJ. It becomes a personalized AI assistant that plays music as you choose. We are also working on NFT-enabled playlists. However, Indian users will have to wait for these innovations.

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