Saturday, June 23News For London

Spotify to sell more than music

From today Spotify sells more than just music and related official merchandise. Users who visit the service to stream tracks by US singer songwriter Maggie Lindemann, will now be offered the chance to buy the same make-up she wears.

Cosmetics company Pat McGrath Labs teamed up with the music streaming app in what Spotify plans to be the first of many e-commerce collaborations.  Details for the products will appear in the same area where music lovers can buy gig tickets and band T-shirts.

Lindemann has 7.5m monthly listeners on Spotify and 2.4m Instagram followers. The launch of this new commercial venture coincides with the release of her new single, Obsessed.

 

Spotify was set up as a private company in 2006, since then the music streaming industry has exploded. In 2016, around 45 billion songs were streamed in the UK, a 68% increase on 2015.

The British Phonographic Industry now lists 23 other legitimate music streaming services including Amazon Music, Apple Music, Deezer, Google Play All Access, SoundCloud and YouTube.

Market observers expect Spotify to list on the New York Stock Exchange in early 2018.

(Sub Tsakane Chabane)