How can Spotify satisfy artists? Live music events, apparently
Spotify has never had a harmonious relationship with artists, with accusations that it does not compensate music creators fairly – but the streaming platform hopes to improve that relationship with the help of live music events.
According to a report in The Information (via Engadget), Spotify plans to engage in live events, possibly selling tickers for “virtual and live concerts.”
Apparently, the main focus of this exercise isn’t to make money from ticket sales (at the start, anyway) – instead, Spotify is hoping that it can use the lure of live events to seduce artists.
The Information suggests that Spotify could use the data it has on artists to help them plan concerts in places that “most promoters avoid”, showing them that it is dedicated to the careers of its musicians.
Of course, there are benefits to Spotify besides keeping artists happy. Offering live music events would give it another way to stand out from an increasingly competitive music streaming market, which has recently seen Apple Music and Amazon Music Unlimited deliver high-resolution sound to their subscribers at no additional cost.
While Spotify has its own plans to introduce a higher level of streaming quality with Spotify HiFi, it will always be limited to CD-quality audio (16-bit / 44.1 kHz); For comparison, Apple Music now offers up to 24-bit / 192kHz.
Spotify has hosted live music events in the past, for example with a 2019 Spotify On Stage concert series in Jakarta and Bangkok and more recently with a pre-recorded virtual concert featuring The Black Keys and Leon Bridges.
Nonetheless, delivering live music events and using artist data to help musicians plan successful tours will be a big step for Spotify, and it could help it stand out more from its biggest rivals.