https://arab.news/nh39c
- Entry of global music giant into Pakistan is validation local music streaming has “high growth potential,” Patari COO says
- Spotify Premium for Rs299 per month in Pakistan, Premium Family subscription plan available for Rs479 per month for up to six family members
KARACHI: Pakistani start-up Patari, a music streaming and production company, on Tuesday welcomed an announcement by Spotify on Monday that it would nearly double its market presence by launching in 85 new markets in the next few days, including Pakistan.
The Swedish company, which started its service more than a decade ago, is currently available in 93 countries and has 345 million monthly active users.
While Spotify is the leader in music streaming, entry in new countries across Asia, Africa, Europe and Latin America would significantly increase the gap with its rivals, Apple Music and Amazon Music.
“Welcome to the Pawri Spotify,” Patari COO Zari Faisal told Arab News, referring to the unusual pronunciation of the word party that has become ubiquitous after a viral video by a Pakistani video creator.
This undated photo shows Pakistani pop band Strings on the Swedish audio streaming and media services provider, Spotify. (Photo courtesy: Spotify)
“It’s quite exciting to see the entry of a player like Spotify in the Pakistani market,” Faisal said. “We’ve always believed that Pakistani music streaming has huge potential; Spotify entering the market is validation that there is high growth potential … we believe it will mean more risk appetite and investment in this sector and continuous development of an ecosystem that will streamline music distribution, monetization and opportunities for local music and audio.”
According to a statement by Spotify, users can upgrade to Spotify Premium for Rs299 per month while the Premium Family subscription plan will be available for Rs479 per month for up to six family members living under one roof.
“The new Spotify Premium DUO (PKR 390 per month) is a subscription plan for two people living at the same home address, which includes Duo Mix, a regularly updated playlist made just for the two subscribers to discover audio they both love and enjoy together,” the statement said. “Spotify Premium for Students subscription plans will cost PKR 149 per month. Direct carrier billing payment options are also available through Telenor and Zong.”
Spotify said it had expertly curated playlists using a team of local music experts, “across a range of popular genres for any mood or moment, including Hot Hits Pakistan, Pakistani Rock Hits, Pakistani Indie 101, Drama OSTs, Loadshedding Longing and more.”
This undated photo shows Pakistani music of various artists on the Swedish audio streaming and media services provider Spotify. (Photo courtesy: Spotify)
Daniel Ek, the founder and CEO of Spotify, announced his global expansion plans at an event on Monday.
“Over the next few days we’ll be expanding Spotify’s global footprint significantly,” he said. “This move will make Spotify available to more than a billion people in new markets around the world”.
“Three years ago Spotify had three million creators; at the end of 2020 they have grown to eight million … By 2025 could have 50 million creators. It is both a challenge and great opportunity,” Ek added.
An earlier expansion drive in India, Russia and the Middle East has already brought in millions of subscribers.
While paid subscribers got a boost during the coronavirus pandemic as people locked in their homes opted for its premium service, the company is now looking to boost its advertisement revenue.
In a one and half hour livestream featuring singing by Justin Bieber, Spotify released a host of new features for artists and tools for advertisers for better targeting its millions of users across music and podcasts.
On Monday, the company’s shares, which were down in early trading, reversed course to rise as much as 6% to a record high.