SPOT Stock Rises 2% as Spotify Launches Shared-Queue Feature Called Group Session

UTC by Daria Rud · 3 min read
SPOT Stock Rises 2% as Spotify Launches Shared-Queue Feature Called Group Session
Photo: Depositphotos

Spotify’s new Group Session feature offers real-time collaboration when people are gathered together. It supports up to 100 users. SPOT stock rose on Monday.

International media services provider Spotify Technology SA (NYSE: SPOT) has introduced a new feature. Named Group Session, it allows Premium users to stream music with each other. Currently, Group Session is available as a beta version only, it is still being tested and developed.

Spotify Group Session: What It Offers

Spotify’s announcement reads:

“Today, Spotify is launching a beta version of Group Session, an evolving feature that allows a group of two or more Premium users in the same space to share the control for their listening session with others via a Spotify Code. In addition to real-time listening, the feature will offer shared queue control and collaboration for the listening group.”

Spotify is the first music streaming platform to launch a group listening experience for its users. To use the new feature, you need a Premium subscription. The service is easy to use. To access Group Seccion, the “host” has to tap the Connect menu in the bottom left corner of the play screen and share the scannable code with “guests”. Guests can join the session by scanning the host’s scannable code. Then, using the standard controls, both host and guests can play, skip, put on pause, and select tracks on the queue. They can also add their own choices which are immediately reflected on all participant devices.

Earlier, Spotify provided a feature for building collaborative playlists with friends. But the new option allows real-time collaboration when people are gathered together and supports up to 100 users.

Spotify’s Response to Coronavirus

After the pandemic started, Spotify rolled out several new features.

Firstly, the company launched a music relief project in which the streaming service matches donations up to a total Spotify contribution of $10 million. It amplifies the efforts of organizations that focus on helping those most in need and makes a donation to these organizations.

Secondly, Spotify introduced a feature that enables artists to fundraise from fans via their Spotify profiles. The company has also launched a COVID-19 hub to draw together relevant news and information about the virus.

In addition, Spotify launched 17 new editorial podcast playlists and made finding music easier. If you want to find out what other companies are offering to its clients amid coronavirus, you can follow this link.

Spotify (SPOT) Stock Up

Following the launch of Spotify Group Session, Spotify (SPOT) stock is up. It closed 2.54% up on Monday, at $156.02, remaining the same after hours. But in the pre-market today, it is slightly down, at $155.30 per share. The company’s market cap is $29 billion.

This year, Spotify stock is 4.33% up. SPOT 52-week highest stock price is $163.94, the 52-week low is $109.18.

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Daria Rud
Author: Daria Rud

Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.

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