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Brought to you by RivalSense - an AI tool for monitoring any company.

RivalSense tracks the most important product launches, fundraising news, partnerships, hiring activities, pricing changes, tech news, vendors, corporate filings, media mentions, and other developments of companies you're following 💡

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Spotify

🌎 spotify.com

Spotify is a digital music service that provides access to millions of songs, allowing users to stream music online. It features popular artists, albums, singles, and curated playlists, making it a leading platform in the music streaming industry.

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Spotify - Latest News and Updates

• Spotify has partnered with Fryshuset to support music development for young people in Sweden by upgrading studios and offering masterclasses.
• Spotify plans to introduce new paid subscription tiers following a deal with Warner Music, aiming to enhance audio-visual streaming and expand its music offerings, according to CEO Daniel Ek.
• Spotify has signed new multi-year agreements with Warner Music Group and Universal Music Group, potentially paving the way for the launch of its Hi-Fi lossless tier.
• Spotify is investigating a bug causing some Premium users to experience ads despite paying for ad-free listening.
• Spotify reached 265 million paying subscribers by the end of 2024, driven by price hikes and expanded subscription offerings, despite laying off over 2,300 employees in 2023 to cut costs.

• Spotify's CEO Daniel Ek announced during the earnings call that the company plans to 'double down' on music in 2025, following its first full-year profit in 2024.
• Shenseea has surpassed 1 billion streams on Spotify, becoming the second Jamaican-born woman to achieve this milestone.

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