Transforming Spotify and adding social networking features
Transformation in 2023
-$SPOT has added a TikTok-inspired discovery channel that has significantly changed the user experience.
Social elements on the platform and future plans:
-$SPOT is introducing more and more social networking elements:
- Podcast comment system: Allows producers to interact directly with the audience.
- Interactive features: Polls, questions and answers, expanding social interaction.
- New artist profile features: Creators can directly promote merchandise and concert tickets.
- Stories: Ability to post stories similar to social media.
What do you think of these moves by the company? Could they result in an increase in share value?
The moves are great, but it's not a stock I want to have in my portfolio.
To me, it looks like Spotify is trying to do "extra" things to defend its price against Apple. For me, it's just dope because of the competition, I just don't know how much it will work out long term.