RISE to fame with Spotify
Spotify has been a favorite music-streaming service since its debut in 2008. It currently has approximately 140 million active users, and 60 million of these users are paying subscribers. This growth shows that Spotify is the most popular music service in the world at this time and is mainly responsible for the recent increase in the music industry, which has been stagnating for decades.
Spotify plans on continuing to grow with its new program called RISE. This program was launched on October 20, 2017, and promotes hand-picked emerging artists. “We have the biggest distribution system in the world for streaming music, so why not use that to help young artists?” Tony Carter, Spotify’s head of creator services, told Billboard.
Four artists have been chosen to participate in the first round of RISE, but the plan is to have 16 artists promoted each year. The first round of artists includes Lauv, a musician in the dance/ electronic genre, Russell Dickerson, a pop country-music singer-songwriter, Kim Petras, a German pop artist and songwriter, and Trippie Red, a rapper, and singer. These artists will be given the best placements in playlists and company promotion material such as T.V. ads and special line events. In addition to this, Spotify will not be infringing on the artist’s copyright or taking any cuts from revenue gained from touring and merchandise sales. RISE will do all of this by following the format of similar emerging-artist initiatives like those used for Apple Music and Deezer.
Based on Spotify’s past success as a music-streaming service, it’s safe to say it will succeed as a discovery platform, even though this is a new venture and change from Spotify’s initial purpose. Spotify has always been a promoter of talented artists because of its accessibility, variety, RapCaviar playlist phenomenon (a hand-picked selection of the 50 best and new songs in Hip Hop), and a network of popular radio stations to draw from. It has become the primary way people are listening to music, outshining other online music forums like YouTube, Google Play, and Apple Music.
Spotify is estimated to gain 40 million subscribers by the summer of 2018 and another 400 million by 2020. This new service and anticipated subscriber growth have the potential to take Spotify from an estimated value of $20 billion to $100 billion. With such growth, it’s clear that Spotify is one of the best places that new and emerging artists can create a fan base, gain popularity, and digitally market themselves.