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Tech

Spotify targets 1 billion listeners by 2030

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Spotify has its eyes on 1 billion listeners by 2030, as concerns grow about the brand’s profitability

Spotify investors are raising concerns about the audio market’s opporunities.

The company is seeking to expand globally, and is looking at audiobooks, education, sports and news.

The company is seeking to become a business 10 times its current size, and generate U.S. $100 billion in revenue with a 40 per cent gross margin annually.

Chief Executive Daniel Ek is seeking to combat the notion of Spotify being a “bad business”.

“That’s why we’re investing so aggressively in building not only a bigger but, we’re thinking, a much more profitable business.”

DANIEL EK, SPOTIFY CHEIF EXECUTIVE

The company says it will go after the audiobook market as it has pursued podcasts. Spotify has also previously sought to tackle false information, after the Joe Rogan scandal.

The stock’s price was up nearly 6 per cent in trading on Wednesday.

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Money

Amazon’s 2024 Prime Day expected to make huge impact on tech sector sales

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Market experts believe Amazon’s upcoming event will drive a surge in sales, benefiting Amazon’s stock and boosting consumer tech companies that sell through its platform.

Experts predict that a short-term rally in retail and tech stocks could be seen as revenue spikes.

Founder/CEO of Unearthing Opportunities, and Board Advisor to Power Hero, Bradley A Gastwirth joins to unpack the latest market moves. #featured #trending

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Leaders

Experts reveal AI’s impact on the retail experience in Australia

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AI has become a game-changer for marketers and retailers in Australia, with many consumers reacting positively to AI integration in the retail environment.

 

Retailers are using AI to optimise inventory, personalise shopping, and improve customer service through advanced chatbots.

Shoppers now enjoy personalised recommendations and seamless online shopping experiences.

Predictions suggest more personalised experiences and smarter shopping platforms within the next 12 months.

Will Wilson, RVP of Sales APJ at SAP Emarsys joins to share his insights into how AI is streamlining success on a large scale.

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News

‘Rust’ will premiere at the Polish film festival, three years after fatal incident

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The controversial film ‘Rust’, plagued by tragedy since 2021’s fatal on-set shooting involving Alec Baldwin, is finally set to premiere in Europe.

The movie faced extensive delays and legal challenges following the tragic incident that resulted in the death of cinematographer Halyna Hutchins.

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