The music podcast and video streaming service, Spotify, is planning to expand its business in Vietnam and Thailand. They have been present on the Asian market from before, operating successfully in Hong Kong, Japan, Taiwan, Malaysia, Indonesia, Singapore and the Philippines.
Sources close to the company confirmed that they are starting operation in these two countries that have combined population of over 160 million and are expanding music markets with a lot of potentials. It’s still uncertain when this venture will start, but it’s speculating that it might even be as soon as this year.
The rumors started when a job posting for ‘music editor’ appeared on Spotify Singapore’s job page for position in Vietnam and Thailand that are based at the company’s Asia Pacific headquarters. The same thing happened in October 2015, when Spotify was hiring music editor for Indonesia, and then launched the service in this country six months later.
Many experts are wondering why Spotify haven’t taken its business to India yet, given the 1.3 billion inhabitants and the fact that it’s becoming one of the top 10 global music markets. Few music streamers such as Gaana, Saavn and Dhingana are already gaining traction in India; and Google Play Music launched there last month.
But, Spotify’s entry into Thailand may not be a smooth sailing after all, since it will have to compete with a few similar companies like Deezer and Line Music. And in Vietnam, Spotify will have to woo music lovers away from ‘nhaccuatui’, a music streaming site operated by NCT Corporation.
Spotify officially launched in October 2008 in Stockholm, Sweden. It is a ‘freemium’ service which means that the basic features are free with ads, while premium features are offered via paid subscriptions. Spotify is available in more than 60 countries worldwide with 100 million registered users from which 50 million are paying subscribers.
Einicia Relaunches its Crowdfunding Activity with a New Investment Opportunity
Einicia, founded in 2016, now relaunches its activity by offering loan and investment opportunities of high interest, high profitability, maximum...
Fintech Companies in Colombia Now Targeting the Vehicle Market
Making use of artificial intelligence technologies, R5, a Colombian fintech company founded in 2018, gave as an example, the three...
A Company from Lublin Planted Hemp in the Middle of a Housing Estate
Hemp will appear on one of the fields at Jantarowa Street in the southern part of Węglin. A popular farmer...
Which Italian City Has the Most Million-Dollar Real Estate Purchases and Sales?
Buying and selling over $1.07 million (€1 million) analyzed by Reopla is concentrated mainly in 5 regions: leading the way...
Laminar Pharma Seeks €30 Million to Quell Glioblastoma
Of the total amount that Laminar Pharma estimates it needs, $10.7 million (€10 million) correspond to bank financing already agreed...
Cannabis2 weeks ago
German Health Minister Wants to Speed Up Cannabis Legalization Process
Biotech2 weeks ago
Covid-19 Vaccine Producers Boost Profits by 23.1% in the First Quarter
Featured2 weeks ago
Extremadura Seeks a Sustainable and Balanced Development of Renewable Energies
Featured2 weeks ago
Schufa Sells FinAPI to Open Banking Startup Yapily