In its ongoing battle against Alphabet’s (GOOGL) YouTube, Spotify (SPOT) has announced new features. The audio streaming service has beefed up its user options, providing subscribers with more control over how they use the app.
The first of these new features is enhanced Queue controls, allowing users to customize their upcoming music with Shuffle, Smart Shuffle, Repeat, and Sleep Timer options. Users can also turn off certain options, such as Smart Shuffle and Autoplay if they don’t want to use them. The Hide option was also revamped and a new Snooze feature was added as well. These features are limited to Premium subscribers, but Spotify wants to roll them out to more users soon.
In addition to this, Spotify also has introduced Plays data, which shows how many times a podcast has been listened to. The company claimed this will offer deeper insight into a podcast’s performance, benefitting both listeners and creators.
Spotify Wants to Challenge YouTube’s Podcast Leadership
Podcasters have carved out a home at YouTube as the company’s video services allow viewers to watch and listen to podcasts at the same time. While Spotify offers these same options, the platform is still primarily known for audio streaming. To attract more users, it’s enhanced the features available to them.
The real problem Spotify faces is the limited range of its video content. Podcasts and music videos are available on the website, but not much else. In comparison, YouTube hosts an enormous library of user-generated content, which allows viewers to easily switch between content types.
SPOT vs. GOOGL: Which Stock Is the Better Buy?
Turning to Wall Street, analysts have a more favorable opinion of Alphabet, with a consensus Strong Buy rating and 29.47% upside potential. Spotify lags behind that with a consensus Moderate Buy rating and slight 1.97% upside potential.
