1 min read

Spotify drops it like it’s hot 🔥

Swedish-born Spotify’s been filling our earholes with phat wax and groovy tunes since 2006 and now it’s becoming a feast for the eyes too. In the spirit of endless TikTok scrolling, Spotify’s bringing back those MTV vibes to music-lovers. Have investors been watching?
Published on
March 13, 2023

Our ears are still ringing from Autumn’s epic line up of throwback concerts. Backstreet Boys, Snoop Dogg and My Chemical Romance are all a treat to the ears of nostalgic millennials and Gen Xers, but a new Spotify (SPOT) feature is on its way to treat our eyes too! 👀

Last week the company dropped their largest makeover in over a decade like it was hot. 🔥 The update delivers a TikTok-like scroll feed and a fresh focus on auto-play videos to grab our attention. Scrolling through playlists will now bring up snippets of videos to help users discover new music. For artists trying to grab the attention of Spotify’s half a billion monthly active users, video could become an essential tool. And that can mean only one thing: Spotify could bring back our love of music videos like they’re baggy jeans from the noughties. 👖

Get ready to say RIP to your mobile data while waiting for your cancelled bus home from work. 🚌 But making it easier to watch music videos and podcasts is another sign of Spotify changing tune from a simple music app towards a wider entertainment platform. Last year the company added to their ensemble by taking on Amazon-owned (AMZN) Audible with the introduction of audio books and launching their own personalised AI DJ. 🎧

That may have helped Spotify grow 14% in the fourth quarter of 2022 to more than 205 million paid subscribers - not far off Netflix’s (NFLX) 231 million subscribers. With around 86% of Spotify’s revenue coming from premium subscriptions, that’ll be music to the ears for investors. It’s also helped to serenade the Spotify share price, which has swooned 49% so far this year, bouncing back alongside shares in Tesla (TSLA) and NVIDIA (NVDA). We want it that way. 🎵

Weekly news from Wall St
Subscribe to Hatch Weekly and get our latest stories straight to your inbox. Read by 10,000+ customers weekly, we help you stay in the know.
Subscribe now
Free Getting Started Course
Take your first, or next, step to becoming a confident investor with Hatch's free online course – just 10 minutes a day, for 10 days.
Learn more

We’re not financial advisors and Hatch news is for your information only. However dazzling our writing, none of it is a recommendation to invest in any of the companies or funds mentioned. If you want support before making any investment decisions, consider seeking financial advice from a licensed provider. We’ve done our best to ensure all information is current when we pushed ‘publish’ on this article. And of course, with investing, your money isn’t guaranteed to grow and there’s always a risk you might lose money.

More recent news articles

More recent learn articles

1 min read
Mar 21, 2023

School’s out for Silicon Valley Bank 🎒

Hindsight is a wonderful thing. How can investors turn Silicon Valley Bank’s ‘what were you thinking?’ moments and incremental failures into life long lessons about how and where to spend and store money? School up on SVB’s lessons learned.
Read more
1 min read
Mar 21, 2023

T-Mobile’s Hollywood hustle buy 💸

Ryan Reynolds got minted with T-Mobile’s purchase of Mint Mobile but that’s not his only Hollywood side hustle. The Wrexham Footie Club owner also sold his Aviation Gin brand for big bucks. And he’s not the only A Lister hoping for return on investment. Who else could be hoping for a big payday?
Read more
1 min read
Mar 13, 2023

The fat cats of weight loss 😼

And the Oscar goes to… Ozempic? The slim-down secret is out and TikTok influencers are dancing their way to their doctor for a script. But what is this ‘new’ wave of injectable treatments really designed to treat and how is Oprah weighing in?
Read more
View all news articlesView all learn articles