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Spotify unveils ‘Lite’ music streaming app for emerging markets

July 10, 2019 / The Irish Times

Spotify released a new version of its music streaming app for customers in emerging markets, an effort to grow outside of its strongholds in the US and Europe.The Spotify Lite app, which runs on Android phones, will appeal to users who are limited by data plans and slower networks, especially in regions like Asia, the Middle East, Africa and Latin America, the company said in a statement. The app was released in 36 markets and an ad-supported service will be available for free while a premium version will cost the same as on its regular music-streaming platform. The company is counting on Spotify Lite for a much-needed boost in markets with lots of potential. The streaming service also needs to reassure investors about its growth prospects while it continues to lose money. The shares are down 26 per cent from their high a year ago. Spotify’s biggest challenge remains the royalties it pays for music rights, which eat up more than 60 per cent of revenue and are a major source of it...