Christopher BarrettStreaming music giant Spotify is, reportedly, looking to expand into live events, having hosted ticketed in-app virtual concerts in recent months by acts including The Black Keys and Leon Bridges, with tickets priced $15 (£11).
The move would, according to a report by technology news site The Information, enable Spotify to leverage the customer listening data it has in order to help musicians plan successful concerts. The article suggests that Spotify believes a move into live events would demonstrate to artists that it was investing in their careers.
Sources are said to have told The Information that Spotify is not planning to go up against established leaders in the live event space, such as Live Nation and AEG, but would instead be focused on using its data about customer listening habits to help acts plan shows in smaller markets that are considered too small for leading headline artists or major promoters.
Spotify is reported to be considering the move into live shows as a way of strengthening its relationships with artists, which historically have been strained, and differentiating itself from rival streaming services including Apple Music.
The Information said the step into live could help the streamer diversify its revenue beyond what it has to currently share with the music labels, and would follow its near $1bn expansion into podcasting.