Spotify is making another progressive step by directly selling tickets to live music gigs.
👉 Background: Spotify is the Swedish-born music streaming platform that acquired music game Heardle last month, as well as smashing its revenue estimates.
👉 What happened: Recently, Spotify superfans have spotted a test in progress. Spotify users can now buy tickets to live music gigs directly through Spotify instead of being directed to a seller like Eventbrite.
👉 What else: There are only few gigs on there for now, but this new feature could be huge. It could also be part of Spotify’s way to get back in the good books of artists.
💡Music streaming services like Spotify have been under major scrutiny for not paying artists enough for their streams. Now Spotify has an opportunity to kill two birds with one stone with this initiative.
💡Spotify can spin this move as a major benefit for artists on the platform, because they’re hopefully encouraging more ticket sales for their shows. And touring is the cash cow for artists.
💡But by becoming a ticketing agent, Spotify could generate some juicy additional revenue through booking fees. And considering that Eventbrite raked in US$66 million in the second quarter of this year, it seems like this new feature could be very lucrative indeed.
Sign up for Flux and join 100,000 members of the Flux family
