New reports are indicating that Spotify is thinking about expanding its business portfolio into ticket sales for events.
According to a report from The Information, Spotify is "considering" expanding its business and that Spotify is thinking about taking a ticket sale route. The Information puts forward the idea that Spotify is interested in using its data to create more avenues of revenue and plans on doing this by helping musicians plan events in places that promoters may not think are viable.
The Information also mentions that Spotify may be looking to take this avenue to show that it is willing to invest in artists' careers. Furthermore, the move would create a feature of interest that other competing music streaming platforms won't have. The Black Keys and Leon Bridges have already appeared in prerecorded virtual concerts by Spotify that the company sold $15 tickets to, which means Spotify has already stepped foot in this area. However, the last point is no verification of Spotify officially making this business shift.
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