Twitter Inc (NYSE:TWTR) has announced a partnership with Spotify that will make it possible for social feeds to include songs. The partnership between the two firms will allow the integration of soundtracks into audio cards.
Twitter launched audio cards in 2014 to allow the microblogging platform to play tracks from numerous streaming sites including SoundCloud, Rhapsody, and Apple Inc. (NASDAQ:AAPL) iTunes. The new deal now places Spotify in the same category. It means users can now listen to a 30-second preview of a song on moments or on their Twitter timeline. Users can also position the music player at one corner of the microblogging platform so they can continue to listen to the music as they browse through the feeds.
The company seems to be seeking out new opportunities that will transform the social site into the go-to place for consumption, sharing, and music. The partnership also presents a good opportunity for Spotify to improve its competitive strategy against Apple Music. The aim is to maintain its current lead, and it believes that its presence in Twitter will be a significant move to keep things interesting.
Spotify is arguably the largest streaming platform, but Apple Music is trying to close the ranks as it quickly rises in popularity. Spotify currently boasts 30 million active and paying subscribers and 75 million active listeners. Apple claims that Apple Music has 13 million paying subscribers which is quite an impressive number considering it is only one-year old. This makes it a threat that Spotify should watch out for.
Spotify’s performance has been quite impressive. The music streaming platform achieved $2.18 billion in revenue last year. It, however, suffered losses of $194 million from royalty payments and the aggressive strategy that it adopted to boost its user base. Twitter decided to team up with music services after the failure of its own music streaming feature. The social network firm hopes that the presence of Spotify will help to make the social platform more appealing.