Topline
Spotify launched a test Wednesday of a platform that allows fans to purchase concert tickets directly through the streaming service, potentially setting the stage for a new venture for the music-focused company as demand for live music soars following the pandemic.
Spotify logo displayed on a phone screen and headphones are seen in this illustration photo.
Key Facts
Tickets to seven concerts across the country from September to December are available to purchase directly through a separate section of Spotify’s website.
A Spotify spokesperson told Forbes the company “routinely test[s] new products and ideas,” some of which “end up paving the path for our broader user experience and others serve only as important learnings,” and the ticket platform is the latest testing initiative.
Key Background
In June, Spotify launched a new hub on its app for live events, part of a bid to improve its concert listings. The new section directed users to concerts from their favorite artists in their area, but ticket sales took place on a third-party platform. With the return of in-person, live music events since the onset of the pandemic, “we think this is the perfect time to explore new ways that Spotify can further support the industry, René Volker, Senior Director of Live Events, said in a blog post about the initiative. The return of live music has brought increased demand and increased frustration over the cost of tickets and the ticket-buying process. Ticket prices increased 11% from 2019 to 2021, and prices grew 14% in North America, LiveNation told the Wall Street Journal in April. Bruce Springsteen drew ire from fans last month who were angered at the cost of tickets for his 2023 tour, with vendor Ticketmaster’s “dynamic pricing” supply-and-demand model offering floor seats for up to $5,000 apiece.
Further Reading
Spotify Says It Paid $7 Billion In Royalties In 2021 Amid Claims Of Low Pay From Artists (Forbes)