The short: Spotify is testing a new service for selling concert tickets directly to fans.
Branching out: Although Spotify dominates the music business, the streaming service continuously seeks new ways to deepen its grip. For example, Spotify is now testing a feature allowing users to buy concert tickets straight from the site rather than ticket distribution companies like Ticketmaster or Eventbrite.
Cutting loose: One must wonder what will become of Spotify’s partnerships with Ticketmaster, AXS, Dice, Eventbrite, and See Tickets, which were accessible via the Live Events page.
The concert ticketing market has proven to be a profitable idea – which is why a few months after partnering with Snapchat, Ticketmaster announced that customers would be able to purchase concert tickets straight through TikTok. But now, Spotify is in the game and probably gunning for the throne.
Paving the path: Spotify’s new website for selling concert tickets has a limited selection of upcoming US-based concerts. Buyers are supposed to create a Spotify account to buy tickets. The official page says that Spotify sells tickets on behalf of third parties, including venues and event promoters.
Final thoughts: It’s a smart and unsurprising move. Competitors like Ticketmaster and Eventbrite have to watch out for the new kid on the block. I’m all for ease, as long as we keep getting better and cheaper ways to get concert tickets.
That’s it for the week. I’d love to hear your thoughts about this week’s issue. Please respond to this email or find me on Twitter @fatuogwuche :)
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See you next Sunday! 🎉