Music Tech

Spotify CEO Daniel Ek outlines 3 new ‘core’ opportunities for music

Spotify CEO Daniel Ek discussed three “core trends” for music during the company’s Q1 2024 earnings call and said that the streamer is already working on all of them.

Analyst Rich Greenfield of Lightshed Ventures asked EK about the possible US TikTok ban and how Spotify might take advantage of the opportunity. EK declined to comment on TikTok’s troubles while still offering an expansive response.

“TikTok and other companies have obviously improved the user experience that we’re all as an industry, learning about these trends and best practices and trying to improve our products,” said Ek. “So that’s what great competition does. It helps improve for everyone. And of course, we are not any different than anyone else in that we’re trying to learn from the marketplace.”

Ek outlined three “core trends in music” that he and Spotify are”excited about.”

1. Short Form and Full-Length Video

Like TikTok and Instagram Reels, “short-form music content is a big focus of ours,” said Ek. “You’re going to see more video on the music side, make its way into the product in 2024.”

“You’re also going to see music clips show up in a bigger way, where artists are using short-form storytelling on video to tell a story around their album or tell fans about a new album drop that they should be pre-saving,” said EK.

Full-length music videos have also been rolled out in 11 markets globally.

2. Music AI

“You’re going to see is, of course, more AI products in the music side,” said Ek without offering new details.

Three layers of AI-powered algorithms already drive Spotify’s personalized playlists, and more recently, an AI-voiced DJ has been added to the host. The streamer is also testing a prompt-based AI playlist creator, which is expected to roll out soon, as are AI-powered tools that allow fans to edit, change the speed, and share altered tracks on the platform.

3. Global Music Ecosystem

“I believe you’re going to see an even more global music ecosystem than any time before in history,” said EK, wrapping up his “three core trends in music.”

Bruce Houghton is the Founder and Editor of Hypebot, a Senior Advisor at Bandsintown, President of the Skyline Artists Agency, and a Berklee College Of Music professor.

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