Plans to enhance Spotify for Artists are in motion
Spotify recognizes DistroKid as a go-to service for artists, helping them deliver their tracks to digital music services around the world, and reaching fans however they choose to consume music.
As part of this partnership, Spotify has made "a passive minority investment" in DistroKid. This was revealed via the Spotify newsroom, but no other details of the investment were shared. "We're excited to roll out this new technology integration in the near future, and hope to share more information soon."
Through the partnership, artists who upload songs to Spotify will be able to distribute those songs to other platforms through DistroKid. This is a necessary piece because it would make no sense for the majority of artists to exclusively release music on a platform.
One thing many speculate about Spotify (and other streaming services) is their potential to take on services of traditional labels. If they can offer artists data and analytics, they could surely give an opportunity to this generation's independent acts who do not attract major corporate players. As Spotify journeys on towards potential profitability, they must find ways to not only differentiate but be a first mover in spaces that artists find valuable.