Swedish audio streaming and media services provider Spotify (NYSE: SPOT) has recently launched in Tanzania and 39 other African countries.
The company explains that the expansion will help ensure that sounds and stories that once remained local can reach a global audience.
Working closely with local creators and partners, Spotify aims to deliver an experience that meets the unique needs of each market, with scaled language translations and specialized payment formats.
In addition, the existing rich music cultures in each of these markets will now be able to reach Spotify’s global audience, giving artists a global platform and listeners an unmatched catalog.
Spotify offers digital copyright restricted recorded music and podcasts, including more than 70 million songs, from record labels and media companies.
As a freemium service, basic features are free with advertisements and limited control, while additional features, such as offline listening and commercial-free listening, are offered via paid subscriptions.
In Q4 2020, Spotify has 345 million monthly active users (MAUs) and 155 million premium subscribers.
35% of MAUs were in Europe, 24% in North America, 22% in Latin America, and 19% in the rest of the world.
40% of premium subscribers were in Europe, 29% in North America, 21% in Latin America, and 11% in the rest of the world.
Spotify pays royalties to artists based on the number of streams as a proportion of total songs streamed.
