Spotify’s Expansion into Africa

Spotify, the leading music streaming site in the world has today announced that it will be expanding its business to Africa. The company that prides itself with a wide range of musical content from different countries seeks to expand its reach into Africa in response to the outcry from fans. It plans to execute this expansion program starting from January 2019. 

“We are thrilled to announce that we are expanding our business into Africa”, says Daniel EK, the CEO of Spotify. ”It has been a long time coming and I believe that it is the right time to explore the African market as we bid to take expand our operations”.

Spotify is a dominant figure in the world of subscription music streaming, as compared to other key competitors such as Amazon Music, Apple Music, Pandora, and the forthcoming YouTube music streaming service. This company which has recently begun trading via a direct listing in the NYSE (New York Stock Exchange), has in the recent past unveiled its robust and ambitious expansion program targeting several countries in Asia, Europe, and now Africa (Schomer, 2018). Like its competitors, Spotify executives view Africa as a developing continent in terms of music and its haste to tap into these markets is more of a long-term investment option rather than an immediate one.

While responding to these reports, Davido, a Nigerian music superstar, pointed out that Spotify is highly welcomed to the continent as it will help propagate local content to the global markets (Shapshak, 2018). ”I believe that Spotify will increase the dissemination of our content, thus, elevate local musician to not only continental stars but also global superstars”.

For more information about the Spotify expansion into Africa, please visit the company’s website: www.spotify.com

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References

Schomer, A. (2018). Here’s what’s next for Spotify after going public. Retrieved from https://www.businessinsider.com/heres-whats-next-for-spotify-after-going-public-2018-4?IR=T

Shapshak, T. (2018). Spotify Comes ’Home’ With First African Launch. Retrieved from https://www.forbes.com/sites/tobyshapshak/2018/03/13/spotify-comes-home-with-first-african-launch/#6e32762110a7