In Q2 2023, TechCrunch reported that Spotify had passed the half a billion user mark. Now, with 515 million active users, Spotify is one of the most popular, most-loved apps worldwide.
The tech giant generated €11.72 billion revenue in 2022. Looking at their numbers more closely, their subscriber growth was slower than their user growth: 15% increase in subscribers year on year, versus the 22% growth in total active users.
In terms of their product roadmap, the biggest feature releases this year focused on the audio discovery process: how to help users find new artists and songs.
Despite the 100 million songs and 5 million podcasts already available, one of the big challenges Spotify faces is content discovery. The constant battle against the stale, overplayed playlists, and users going into an audio wormhole and never coming out again.
I’ve had this before.
I zone out listening to my playlists, and become increasingly irritated listening to the same songs over and over.
But then when I search, I draw a blank.
What is my music taste? How do I describe it?
I can’t quite find the words.
This is where personalisation and ML are key to helping users discover content and deliver experiences that keep Spotify users engaged over time.
One key feature was launched last week to help with just this. To help keep Spotify user’s fresh and engaged. To get us out of our wormholes.
Enter the daylist.