Spotify is entering a new era and dabbling in the world of video courses.
👉 Background: Spotify is the Swedish company that's made a name for itself as the biggest music streaming service globally...and for its annual Spotify Wrapped.
👉 What happened: Spotify is entering a new era and dabbling in the world of video courses. These video courses will be first rolled out in the UK as a trial, covering topics from music production to Microsoft excel to self-help.
👉 What else: While video courses might sound a bit random, it's not too surprising given Spotify's struggle with profitability over the years. And with over 600 million users, Spotify has a goldmine of data to leverage for its growth.
💡If you’re trying to launch new products to fuel growth, having internal customer data can be a major advantage.
💡Around 50% of Spotify Premium subscribers have listened to education or self-help themed podcasts. Data on customer listening preferences gives Spotify a detailed insight into what topics users are most interested in learning about.
💡Netflix has also relied on its customer data when it comes to choosing what TV shows and movies to produce. And despite its ups and downs, this has allowed Netflix to retain subscribers with its original content.
Sign up for Flux and join 100,000 members of the Flux family
