(Stockholm, Reuters) – Spotify plans to hire hundreds of employees to increase its advertising revenue in Europe and elsewhere, as streaming music seeks to increase revenue from customers who do not pay monthly fees, although most of its user base.
“We are growing our ‘marketing’ staff for the advertising business in Europe, Australia and Canada by more than 70% … it comes from a very significant platform,” said Lee Brown, head of the Spanish advertising business.
The company hired an advertising department executive with 25 years of international experience to drive international sales, Brown said, though not named.
Spotify wants to add additional tools for advertisers and make its megaphone advertising and podcast launch site available in Germany, France, Spain and Italy.
Spotify has spent hundreds of millions to strengthen its business ‘Podcasts’. Its competition with Apple has intensified since the two launched paid subscription sites for podcasters earlier this year.
According to consulting firm Emarketer, the Swedish company is expected to surpass Apple in the number of podcast listeners for the first time this year.
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