It’s a real box, as we see very few in a relatively gloomy music industry. Taylor Swift has just released her new album called Midnight on October 21 and she has already achieved a feat on the Spotify streaming platform.
A tidal wave that crashed Spotify
As reported by the Swedish service, the artist now holds the record for the most listened to album in a single day on the app. Spotify also reports that the American star has broken the record for most streamed artist in one day in Spotify history. This good news is also reflected on Apple Music where it currently tops the “New Music Daily” category.
As you can imagine, Spotify was delighted with the very good performance of Taylor Swift. The streaming platform even decided to publish a press release for the occasion, advising: “ if you haven’t done it yet, or if you’re doing it for the hundredth time, listen to Midnight “.
It should also be noted that the release of this album happened in pain on Spotify. In a way, we can say that Taylor Swift was a victim of her success because the influx of visitors literally crashed the platform.
According Bloomberg, 7844 failures were reported on the service worldwide on the specialized site Downdetector. As our colleagues remind us, this happens regularly when a popular production is born. This happened in particular this summer when the series was released House of the Dragon on HBO Max.
Either way, this is of course still great news for Taylor Swift and for Spotify. The Swedish service has gone for many years without reaping any benefit. Today, these are still modest, but the company wants to see the future in a positive way.
We recently told you about the speech of Daniel Ek, its managing director, during a report for shareholders. He believes Spotify can reach 100 billion euros in annual revenue within 10 years. That would be impressive growth as Spotify’s revenue was 11.4 billion euros last year.
To achieve this, it relies on music, which is the hallmark of the service, but also on podcasts, in which the platform has invested heavily. This segment could thus bring in 20 billion dollars per year according to him.
Spotify is also placing a lot of hope in audio books in order to accelerate its growth, and very good margins are expected. Finally, the application should also launch new types of content over the next ten years in order to generate additional sources of revenue.