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According to company data, more than a billion dollars have been invested in the audio content business.
As of today, Spotify has more than 400 million subscribers worldwide.
The consulting firm PwC estimates that, for the next few years, there will be 974 million “polisteners” around the world.
Spotify announced that, as part of a strategy to moderate the content of its podcasts, it bought a company that will help, above all, create a better environment for users.
If we talk about music platforms, Spotify is, without a doubt, the market leaderconverted into one of the key strategies in the music industry, given its massive reach, which, as if that were not enough, continues to grow.
A few months ago, through an official statement, it was revealed that Spotify reached the number of 433 million subscribers worldwideplacing it even higher than its competition, Apple Music (with more than 79 million subscribers) and YouTube Music (with more than 50 million registered users).
Undoubtedly, even though an increase in music sales in physical format has been reported, the streaming it is still the dominant mode of consumption among Internet users. According to data from the International Federation of the Phonographic Industry (IFPI), by the end of 2021 there were already more than 523 million users of subscription accounts, in addition to the streaming global accounted for 65 percent of total revenue.
In that sense, it is the musical platform of streaming most powerful and popular on the planet, despite the fact that, months ago, it was the target of all the criticism due to one of its podcasters, which is why several users said goodbye to the application.
Now, Spotify continues with its plan to conquer audio content by launching a series of novelties for users and with which it seeks to have greater control.
Spotify buys company to moderate podcast content
Through a statement, the Stockholm company carried out the purchase Kinzena leading platform in content moderation, keeping in mind to contribute to the mental and emotional health of its users.
“The company’s unique technology is particularly suited to podcasts and audio formats, making its value to Spotify clear and unmatched.
The technology that the Kinzen team brings to Spotify combines machine learning and human expertise, backed by analysis from leading academics and local journalists, to analyze potentially harmful content and hate speech across multiple languages and countries.” Spotify.
Since 2020, the year of the pandemic, Kinzen had already been working with the streaming company, focusing, at that time, on the presidential elections and all the content that was spread about it from its platform.
Kinzen’s partnership with Spotify began in 2020. Our aligned vision of online safety led to a deeper relationship, and to a decision we are proud to announce today: that Kinzen has been acquired by Spotify. Read more here: https://t.co/ifiSWuxgz8
— Kinzen (@wearekinzen) October 5, 2022
Today, one of the biggest bets for brands is podcasts. In fact, last June, Spotify announced, during Investor Day 2022, that, so far, it has invested around one billion dollars in the business of podcasttrusting that these contents stand out and generate revenues of 100 billion dollars annually and one billion users by the end of the decade.