Spotify listeners cross half a billion mark

8 March (Reuters) – Spotify Technology SA (SPOT.N) said Wednesday it is rolling out new features to its audio streaming platform, including smart shuffle and podcast and music playlist previews.

To attract users and advertisers, the Swedish company, which has invested heavily in recent years to build its podcast and audiobook business, unveiled a “new reimagined user interface” at its Stream On event. .

Spotify also shared an update to its annual music royalty report, revealing that the number of artists making $1 million or more and those making $10,000 or more more than doubled over the past five years.

Earlier this year, Spotify said it would tighten spending and drive efficiencies in light of challenging macroeconomic conditions, and predicted 500 million listeners this quarter.

Features such as podcast autoplay, personalized visual and audio previews of podcast episodes and audiobooks, music playlists, and new feeds for discovery will roll out gradually starting Wednesday, Spotify said.

Reported by Eva Mathews of Bangalore.Edited by Maju Samuel

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