Spotify, the world’s largest audio streaming platform, has recently become available in more than 80 additional countries across Asia, Africa, and the Caribbean.
Thanks to the expansion, Spotify will now be able to potentially attract as much as 1 billion new listeners, who can enjoy its growing catalog of songs and podcasts in 36 extra languages. “These moves represent Spotify’s broadest market expansion to date,” stated the Swedish company.
Currently, Spotify users from all newly supported countries have full access to the streaming platform’s global music catalog, but its podcast catalog is not yet available in certain locations. To make its services more attractive to local audiences, Spotify is determined to work with local creators and partners to expands its music offering by including regional artists.
Spotify has been with us since 2008. The service now enjoys 345 million monthly active users (155 million of which are premium paying subscribers). “For the first time ever, we have the technology to connect the world through audio,” said Chief Executive Officer Daniel Ek at an investor event known as #StreamOn.
During the event, Ek talked about Spotify’s desire to become a full-fledged audio streaming platform offering all kinds of audio content. The service is already home to around 2 million podcasts, and its audiobook library is growing at a similarly impressive pace. Spotify has also announced dozens of new original series, such as sports shows and celebrity talk shows.
In addition to the market expansion, the company has also announced Spotify HiFi which will be available later this year. Spotify HiFi changes the way people listen to music as it delivers all tracks in CD-quality, lossless format, giving users much more depth and clarity.
Newly supported countries:
Angola, Antigua and Barbuda, Armenia, Azerbaijan, Bahamas, Bangladesh, Barbados, Belize, Benin, Bhutan, Botswana, Brunei Darussalam, Burkina Faso, Burundi, Cabo Verde, Cambodia, Cameroon, Chad, Comoros, Côte d’Ivoire, Curaçao, Djibouti, Dominica, Equatorial Guinea, Eswatini, Fiji, Gabon, Gambia, Georgia, Ghana, Grenada, Guinea, Guinea-Bissau, Guyana, Haiti, Jamaica, Kenya, Kiribati, Kyrgyzstan, Lao People’s Democratic Republic, Lesotho, Liberia, Macau, Madagascar, Malawi, Maldives, Mali, Marshall Islands, Mauritania, Mauritius, Micronesia, Mongolia, Mozambique, Namibia, Nauru, Nepal, Niger, Nigeria, Pakistan, Palau, Papua New Guinea, Rwanda, Samoa, San Marino, Sao Tome and Principe, Senegal, Seychelles, Sierra Leone, Solomon Islands, Sri Lanka, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, Tanzania, Timor-Leste, Togo, Tonga, Trinidad and Tobago, Tuvalu, Uganda, Uzbekistan, Vanuatu, Zambia, and Zimbabwe.
Stripe Enters The Middle East With Its UAE Launch
Stripe will initially only be available to UAE businesses, allowing them to accept online payments, make payouts, mitigate fraud, and attract customers from around the world.
Stripe, a provider of online payment processing for internet business, has finally expanded to the Middle East with its official launch in the United Arab Emirates. The Irish-American company also opened an office in Dubai Internet City, allowing it to be closer to its new customer base.
At first, Stripe will only be available to UAE businesses, allowing them to accept online payments, make payouts, mitigate fraud, and attract customers from around the world.
“The UAE is a thriving hub for technology, supported by strong investor appetite, internet-savvy consumers, and an open, innovative ecosystem of business leaders and entrepreneurs,” said Matt Henderson, EMEA Business Lead at Stripe. “Our launch today also means we can now connect our global user base to the Gulf, enabling them to seamlessly expand their operations in the region.”
Stripe’s entry into the Middle East market comes just weeks after its latest round of funding, which has resulted in the company’s value jumping up to $95 billion and making it one of the most valuable fintech companies in the world.
The UAE is the perfect entry point for the online payment processing provider because the total value of digital payment transactions in the gulf country has doubled in the last two years alone, reaching $18.5 billion in 2020. If the UAE remains on the current growth trajectory, its e-commerce sector is expected to add nearly another $10 billion over the next two years.
Another factor that makes the UAE such an ideal expansion point is the fact that accepting online payments in the country has historically been incredibly challenging. Stripe provides a straightforward setup process and developer-friendly APIs, making it easy for companies of all sizes to improve their online presence.
Last year, Stripe launched in the Czech Republic, Hungary, Romania, Bulgaria, Cyprus, and Malta. The company also expanded into Africa via Nigeria technology startup Paystack. In total, Stripe currently processes hundreds of billions of dollars each year.