(CelebrityAccess) — While it’s no secret that streaming music goliath Spotify has been experimenting with ticketed in-app virtual concerts in recent months, a new report by technology news site The Information says they are weighing moving into live events as well.
According to The Information, informed sources said that Spotify is weighing the move into live events propelled by the trove of listening and artist data collected from users of its platform to help artists develop virtual and live events.
The sources told The Information that Spotify isn’t seeking to challenge major players in the concert space, such as Live Nation or AEG, and said that Spotify would focus on smaller markets where its trove of user data will help it to find opportunities for artists to connect with fans.
As well, Spotify sees the collaboration as a way to strengthen its relationship with artists and differentiate itself from rivals such as Apple Music.
The potential move also appears to reflect Spotify’s ambitions to diversify its revenue streams that also includes its big-ticket expansion into podcasting and the company’s flirtation with direct licensing deals with artists.