Post contributed by Cori Mullaney -
The digital music service, Spotify, has taken the music media industry by the horns. The service, which provides customer access to millions of songs, is already at the top of the media chain. But how does it plan on staying there?
With the rise in competition amongst media firms, services such as this must look toward the future. As the competition increases at a rapid rate, revenues begin to decline. Therefore, services such as Spotify must find and develop new sources of revenue in order to stay afloat.
In addition to developing new and improved features, the digital music service must look toward marketing campaigns. The service has done just that. Spotify announced on Wednesday that it will be teaming up with Coca-Cola Co. to help expose and recruit the service. Spotify will gain access to Coca-Cola’s formidable global marketing engine, making it easier for the service to expand internationally.
So what’s in it for Coca-Cola? According to Alex Pham, writer for the Los Angeles Times, “Coca-Cola can now use Spotify’s service to instantly add music to its online marketing repertoire.”
With a solid marketing partnership such as this one, the future for Spotify will surely be bright.
Source- Spotify and Coca-Cola for marketing partnership Los Angeles Times
BJB- some editing for style