Swedish audio streaming platform Spotify is one such brand that single-handedly took over all audio platforms. There was a time when there used to be tough competition between Gaana, Wynk Music, and Spotify, but with its innovative marketing and well-planned strategy, it gained a monopoly over the audio streaming sector.
Recently, Spotify exceeded the expectations its makers had for its listenership, with the number of active users reaching 5,551 million, showing tremendous growth of 27% which was higher than expected. A major share of Spotify’s success goes to Gen Z listeners who made Spotify a giant. It was the younger audience, particularly the teenage group, that were the most prominent users of this app. With features like shared playlists and the availability of high-quality podcasts, Spotify became the first choice among younger audiences. The feature to create and share playlists made Spotify a trend among kids.
This strong influence on GenZ helped Spotify grow its premium subscribers to 220 million, which is higher than their expected number of 217 million.
