What Changes Can Take Place On Spotify in the Next Five Years?

A few changes might take place on Spotify in the coming five years. Learn about the platform’s new changes to enhance the impact on the streaming site.

Music streaming platforms are right now the biggest part of the music industry. Among all the streaming sites, Spotify is the largest one. Millions of artists and audiences are there who are making and listening to music on this platform. As it has the largest audience base, artists are trying to offer more songs on this platform to gain more attention. However, the dynamics of this platform, including others, are changing with each passing day. Every other day, artists are facing various changes that are making it a little hard to make an impact on the audience. For that reason, it is very important to understand how to handle the new changes. Only this can help one gain more plays and recognition on this platform. Currently, in this situation, if you get to what will happen in the next five years, then it can be helpful in many ways. Let’s find out what will or may happen in the coming five years for a better future-

1.       A massive change in royalty and revenue models:

It has been observed that a huge pressure is currently on Spotify regarding royalty transparency. Artists are not very well aware of how the royalty and revenue models work. As a music maker on the platform, they have the complete right to know about this information. Recently, Spotify has said that the new change will royalty model can ‘generate - $1 billion for artists over five years’. There would be more segmentations of royalties and how they are calculated. When such information is provided to the audience, it will be much easier to understand the models. It can also help one to track the stats in a hassle-free way, which can be really useful for all.

2.       More use of AI and other generative tools:

The use of AI has already increased more in the music industry. Currently, it is coming to see that many kinds of generative tools and AI features are out there that are making a deep impact on music makers. The tools help in crafting new songs and mixing music. All these are making the whole process of making music much easier. In the next 5 years, the use of these will increase even more. With each passing day, the use of AI will increase, and a huge change in the music industry will come to see. Therefore, it is a change that everyone will get to see in the coming years. If you are a music maker on this platform, you must learn to use the AI tool in a more prolific manner to get better results in the future. 

3.       More localization and global growth:

With each passing day, Spotify is growing at a large scale. It is expected that in the coming five years, the focus will be much stronger on localized content. A lot of localized strategies would be implemented on the platform regarding playlists, markets, and languages. This will help to reach out to even larger audiences within a brief time. When such marketing expansions take place, as an artist, you will be able to reach out to specific regional listeners in a much hassle-free way. This is going to bring a huge change in the industry and the growth dynamic of the artists. Therefore, it is a change that can be expected on Spotify in the coming five years.

4.       Better artist-fan connection:

For every artist, having a better connection with their fans is considered one of the most important things. Being a music maker, if you cannot do so, you will not be able to achieve much success. Currently, it is coming to known that more tools will be offered to the artists to promote their songs directly and build a better connection with their audiences. In addition to that, many fan engagement tools will also be provided that will have the potential to bring a massive change. As a music artist, if you can use those tools, then you will be able to reach out to more listeners and build a better connection with them. It will help you to boost your fanbase in a much effortless manner. Hence, it is a change that will be noticed on this music streaming site.

5.       Change of streaming services:

Spotify isn’t limiting itself to only a playback service. It is slowly trying to broaden its spectrum and focus on other elements. On this platform, different modes of content, social audio, and podcasts are being focused on more. So, from now on, if you start learning about them and their use, then you will be able to take the complete advantage of the changes. When such new services are offered, you will be able to find new avenues to reach out to your audiences. It is a change that we might see in the next five years on Spotify.

Spotify might be coming with several changes in the coming five years, and the mentioned ones are a few of them. If you are an artist, start learning about them early on to have a better result.