Spotify generated $40m+ in ticket sales in 2017
A new analysis by "Music Business Worldwide" says that Spotify’s work with Fans First (the brand representing Spotify’s data-mining work for/with artist partners) generated no less than $40m in ticket sales, working with nearly 700 artists across 1,000 campaigns. And those $40m in ticket sales clearly demonstrate the power the platform can wield when it precisely targets fans who are most likely to buy tickets to an event.
And, according to Troy Carter - Spotify’s Global Head of Creator Services - the company has more coming in 2018. This means that Spotify is becoming more and more of a live music promoter – hosting a range of first-party concerts while reducing its risk of unsold tickets by monitoring genre-specific playlist data.