Spotify, one of the most important brands in the online music and podcast market, seems to have turned its attention to ticket sales for concerts now. Sources state that the company is preparing to sell both live and virtual concert tickets. It is said that Spotify plans to make better use of the extensive user data it has in this way.
According to The Information, Spotify plans to only sell tickets for musical events for now. For many musicians, concerts and related income are of great importance. In addition to the ticket sales revenues, the products sold at the concerts also make a significant contribution to the musicians.
It is also stated that Spotify aims to improve its relationship with musicians who sometimes look at it with suspicion by selling concert tickets. Musicians can put Spotify on the target from time to time due to paid royalties.
It can also be said that Spotify aims to diversify its income sources with this new move. The company started this process with the podcast opening. Spotify, which found what it was looking for in the podcast move, needs to be demanded from both users and artists in order to repeat the same success in ticket sales.
According to the report, Spotify does not intend to compete with platforms that currently sell tickets. It is stated that the focus of the company is to develop relationships with musicians. It is worth remembering that Spotify has limited experience in selling virtual concert tickets.