The Spotify app on an iPhone.
Fabian Sommer | picture alliance | Getty Images
The audio streaming service Spotify plans to almost double its geographic footprint and launch in 85 more countries and add 36 languages to its platform in the process.
The Swedish company announced the international expansion on Tuesday at a live streaming event featuring Justin Bieber, Prince Harry and Meghan Markle.
Spotify said the expansion to what are largely seen as developing countries in Asia, Africa, the Pacific and the Caribbean will allow billions more people to use its platform.
In the next few days, Spotify will launch in countries such as Nigeria, Tanzania, Ghana, Bangladesh, Pakistan, Sri Lanka, Bhutan, Samoa, Jamaica, the Bahamas and Belize.
“These movements represent Spotify̵
Launched in 2008, just a year after the first iPhone was released, Spotify has amassed 345 million monthly active users in 95 countries. Of these, 155 million are premium subscribers.
While Spotify started as a music streaming platform, it now allows people to listen to podcasts, audiobooks and meditations.
Stockholm Headquarters has spent hundreds of millions of dollars securing exclusive podcast series including a new show from Barack and Michelle Obama that will feature Bruce Springsteen.
Competition with tech giants
Spotify faces stiff competition from Apple, Amazon and Google, which have launched their own music streaming services in recent years.
The company’s biggest competitor is without a doubt Apple Music, and Spotify is involved in a bitter cartel with Apple. Spotify does not think it is fair that it should pay Apple a commission or what it sees as a “tax” when users subscribe and pay for its service through Apple’s App Store. It lodged a complaint with the European Commission in March 2019 and an investigation is under way.
Spotify’s share price fell 4% to $ 350 on Monday, and it fell another 0.5% to $ 348 in post-trade.