{"id":20160,"date":"2014-10-14T22:08:33","date_gmt":"2014-10-15T02:08:33","guid":{"rendered":"https:\/\/bejone03.expressions.syr.edu\/trf235\/?p=20160"},"modified":"2014-11-30T21:26:08","modified_gmt":"2014-12-01T02:26:08","slug":"spotify-2","status":"publish","type":"post","link":"https:\/\/bejone03.expressions.syr.edu\/trf235\/2014\/10\/14\/spotify-2\/","title":{"rendered":"Spotify"},"content":{"rendered":"
by Helen Lu<\/pre>\n
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[1] <\/a>Spotify’s Logo<\/p><\/div>\n
KEY EXECUTIVES<\/strong><\/span><\/p>\n
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[2]<\/a> Spotify Founders- Martin Lorentzon & Daniel Ek<\/p><\/div>\n
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[3]<\/a> Jeff Levick- Chief Business Officer<\/p><\/div>\u00a0<\/span>
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[4] <\/a>Steve Savoca- Head of Content<\/p><\/div>\u00a0<\/span>
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[5]<\/a> Ken Parks- Chief Content Officer & Managing Director USA<\/p><\/div><\/p>\n
SPOTIFY OVERVIEW<\/strong><\/span><\/p>\n
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[6] <\/a>Spotify’s sleek interface layout for their multi-platform service.<\/p><\/div>\n
Spotify<\/a><\/span> is a privately-owned, digital music streaming service that provides on-demand access to tracks. It is available on multiple platforms, including computers, mobile, tablets, and home entertainment systems.\u00a0Originally founded in Sweden in 2006, Spotify launched in the United States in 2011; it\u00a0is now available in 58 markets.\u00a0[7]<\/span><\/a><\/p>\n
Spotify offers listeners the free model<\/span><\/a>, “made possible by ads,”\u00a0\u00a0and the premium model<\/span><\/a> for $9.99 monthly, which is ad-free, high-quality, and available offline. [8]<\/span><\/a>\u00a0With over 20 million songs, over 20,000 tracks added daily, and over 1.5 billion playlists, Spotify has accumulated 10 million active users and a total of 40 million active users.\u00a0[9]<\/span><\/a><\/p>\n
COMPETITORS<\/span><\/strong><\/span><\/p>\n
Rdio<\/a><\/span>, Pandora<\/span><\/a>, Rhapsody<\/span><\/a>, Google Play Music<\/span><\/a>, Beats<\/span><\/a>, iTunes Radio, <\/span><\/a>Music Unlimited<\/span><\/a>, and Xbox Music<\/span><\/a>\u00a0are\u00a0worthy contenders in this competitive space. Product reviews assess service\u00a0quality with major factors include song catalog, user interface, support, and features. [10]<\/span><\/a>\u00a0Each racing for a market share, these top players in the market are making strategic ploys\u00a0to stay afloat.<\/p>\n
On November 12th, Youtube announced their own streaming service, Youtube Music Key <\/span><\/a>for $9.99. It will be interesting to see how it will affect the music industry when it fully hits the market in 2015. [11]<\/span><\/a><\/p>\n<\/header>\n
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[12] <\/a>Spotify\u00a0and\u00a0The Echo Nest collaboration<\/p><\/div><\/p>\n
In early March 2014, Spotify acquired The Echo Nest<\/span><\/a>, a big data company to enhance the music discovery feature, forcing Rdio<\/span><\/a>,\u00a0Rhapsody<\/span><\/a>, iHeartRadio<\/span><\/a>, and Vevo<\/span><\/a> to look elsewhere for a\u00a0discovery\u00a0algorithm. [13]<\/span><\/a><\/p>\n
THE SPOTIFY STRATEGY<\/strong><\/span><\/p>\n
Spotify has successfully targeted college students, establishing a solid audience base and brand loyalty. With personal information confirming their status, Spotify offers students Spotify Premium for only $4.99<\/span><\/a>.\u00a0[13]<\/span><\/a>\u00a0<\/span><\/p>\n
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[13]<\/a> Spotify engages their target audience: college students and 18-24 year-olds.<\/p><\/div>\n
COLLEGE CASE STUDY<\/span><\/span><\/p>\n
Spotify’s tenacious grasp on college students’ listening is reflected in their recently released research report of the\u00a0Top 40 Musical Schools in America<\/span><\/a>. The\u00a0findings\u00a0are a close study of the musical norms in the schools.<\/p>\n
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[14] <\/a>Detailed graphs document music-genre distribution and listening spikes, showing not only what students listen to but also how they listen.<\/p><\/div>\n
The data that Spotify is able to collect can be utilized for targeted advertising and marketing campaigns today. Moreover, with such a large following of the developing youth, Spotify is not only able to make significant advancements with the\u00a0invaluable information\u00a0about \u00a0today, but accurate inferences about these soon-to-be adults tomorrow. [13]<\/span><\/a><\/p>\n
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#THATSONGWHEN<\/a><\/span><\/p>\n
Spotify launched their #thatsongwhen<\/span><\/a>\u00a0campaign with advertising agencies Ogilvy & Mather <\/span><\/a>and David<\/span><\/a> to further engage their millennial base. #Thatsongwhen allows users to tie their emotional experiences to their favorite songs, to create, and to tell stories. The customization, personalization, and interactivity of a musical experience attracts and retains a\u00a0young\u00a0crowd. [15]<\/span><\/a><\/p>\n
The stories are\u00a0media\u00a0clips that are charged with emotion, and of course, music.\u00a0Don’t Go Chasing Girls<\/span><\/a>\u00a0is about a man’s early memory of his childhood crush that is easily triggered with TLC’s\u00a0hit song,\u00a0Don’t Go Chasing Waterfalls. Stories and songs are updated and posted on a live feed.<\/span><\/a><\/p>\n<\/header>\n
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