According to The Wall Street Journal, it’s one of several surprising facts about users’ music consumption habits that Spotify highlights in a new ad campaign debuting Monday. By sharing some of the more unusual insights about its audience, Spotify is hoping to attract a new wave of consumers to the Swedish music-streaming service.
“There are people who have been on the sidelines of streaming and now they’re ready to come in and adopt streaming,” said Chief Marketing Officer Seth Farbman. “We wanted to give them a sense of what they’ve been missing out on.”
Privately-held Spotify, which has been valued by investors at $8.5 billion, has an audience that spans more than 75 million active users and 30 million paying subscribers. According to a legal filing last May, Spotify’s loss in 2014 widened to $181 million. Revenue in 2014 rose 45% to $1.21 billion. The company shares a portion of its revenue with music-label partners.
Spotify has an especially strong customer base among millennials, but is looking to court a broader and older demographic in its latest marketing efforts. Increasingly, Spotify has been focusing on attracting consumers in their late 30s and early 40s, Mr. Farbman said.
“We fundamentally believe that the size of Spotify and the size of the audience is a real point of differentiation for us and we’ll continue to tell the stories that come from our music fans and tell the stories of how artists can find even more fans and accelerate their career,” Mr. Farbman said.
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