Spotify Explores Expansion Into Events

Spotify is considering entering the events business, using data about consumer interests gleaned from its music-streaming service to host virtual and possibly live concerts, according to people familiar with the situation.

Spotify would sell tickets for the events, giving it a new source of revenue. If the business took off longer term, the move could help Spotify diversify its revenue beyond what it has to currently share with the music labels, following its nearly billion-dollar expansion into podcasting.