Spotify’s streaming service has transformed how people listen to music; it ended 2020 with 345 million monthly active users and 155 million paying subscribers. It’s now undertaking a massive global expansion, reaching more than 170 markets, and has made a nearly $1 billion investment in podcasting, buying Gimlet. Spotify also spent $235 million last November on Megaphone, a company that makes it easier to sell audio ads. It’s signing up hosts ranging from Meghan Markle to Joe Rogan, and recently unveiled a series of conversations between Bruce Springsteen and Barack Obama. Soon, the company plans to add Spotify HiFi, a premium service for users who want CD-quality audio.
More Must-Reads From TIME
- The 100 Most Influential People of 2024
- The Revolution of Yulia Navalnaya
- 6 Compliments That Land Every Time
- What's the Deal With the Bitcoin Halving?
- If You're Dating Right Now, You're Brave: Column
- The AI That Could Heal a Divided Internet
- Fallout Is a Brilliant Model for the Future of Video Game Adaptations
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
