News - 24/01/2018

Spotify is keeping an eye on tips economies in social apps

Spotify is keeping an eye on tips economies in social apps

Spotify’s CMO Seth Farbman at the NY:LON Connect conference hinted at Spotify's interest in tips economy via social apps - "tips economy" refers to the process, seen most often so far in livestreaming-video apps, by which fans can "tip" their favourite social stars with small payments.

He said, indeed:

I love the concept in Asia and China in particular where it’s micro-payments, where you like something… this sense that when you receive something of value, you can immediately recognise the value of that content or artist by giving them a little tip or something. One thing that does is it starts to create a bond. So how do we connect artists and fans in ways that they’re more aware of one another, where you can feel the impact of fandom if you’re an artist, and get that satisfaction back if you’re a fan? I think that’s done in Asia much better than it is in the rest of the world, so that’s something we’re watching carefully.

YouTube has picked up on the idea, but could it be on Spotify’s agenda too?

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