“To have access to every single piece of music that’s ever been released-and ever will be released-for $10 a month is just astounding.” The same is true of Spotify today as was true when it was founded 17 years ago: It’s a business that’s good for listeners and labels but bad for both streamers and artists. But unless it can convince people to pay more for music, it might continue to struggle. For the second straight year, Bad Bunny took the top spot globally, amassing over 9.1 billion. If Spotify were to charge more for music (it already increased monthly prices from $9.99 to 10.99 in the US this summer), it would risk losing people to comparable services, where people can find the same songs. Alongside Wrapped, Spotify has also announced the most popular artists on the platform for 2021. This way, users get to know more about their musical tastes, and the data can be helpful in rediscovering music again. Spotify, however, says that 'wrapped' is a way of returning the favor to Spotify users for the past year. The music streaming fight isn’t like the streaming wars, where Max, Netflix, Hulu, and others can each lure in subscribers with a combination of classic and original movies and shows. The purpose of the 'Spotify Wrapped' campaign is simple: to promote the music streaming platform. This fall, it began offering paying subscribers in the UK and Australia free audiobook access for 15 hours each month. It spent more than $1 billion building its podcast world and acquiring exclusive deals to shows like The Joe Rogan Experience. So Spotify has spent the past few years looking for that standout content. But that stat doesn’t capture screenshots, a common way people post their results to social media. But unlike Spotify, Apple and Amazon have massive streams of revenue elsewhere to fall back on. In 2021, Spotify Wrapped was shared 60 million times by users. Like Spotify, Apple Music and Amazon Music are each charging $10.99 per month for premium subscriptions, and each give access to 100 million songs. To view your Spotify Wrapped data, launch the Spotify app and go to Home > SPOTIFYWRAPPED > Your 2023 in review to access Spotify Wrapped.
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