Each week we feature five stories we thought were interesting, notable, or culturally significant. This week we are showcasing stories on Spotify, Twitter, Podcasts, Networking, Storm Venture, Beatport.
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Overview: Spotify is looking for another payment tier.
Many people now listen to connected speakers, and this new level gives them access to music in CD quality. Spotify has set its sites on another higher payment tier in their membership – for individuals who want HiFi quality. Spotify also adds more capabilities, which may turn them into potential billion listeners, including more ‘live’ and interactive features to podcasts, like “leveraging” concepts and capabilities to Clubhouse.
Why It Matters: Spotify likely saw the success Tidal had been having with their HiFi music quality and wanted to put their hat in the ring. I guess they will also create a more exclusive tier or tier bundle in the $15-$20 range. This will likely include consumer podcast content, both video, and audio, have some Clubhouse feature that has exclusive speakers that allow individuals to host their oven events. Spotify will turn into one part content publisher, one part social engagement platform based on what I am seeing.
Link: TechCrunch – Spotify
Overview: Twitter announced this week that they introduce new features that essentially create tiers of content, similar to Instagram’s best friends’ feature that allows people to share some bits of content to only some followers. It will be possible to monetize this, similar to how people use Patreon to create premium layers. For example, a Musician or Media company could put out lots of tweets in his public feed but create a different set of tweets giving more access and content that would only be seen by people who pay $5 a month or similar. They could also grant access to live chats within Twitter’s new voice-based spaces area, very similar to Clubhouse.
Why It Matters: Twitter-like any brand, it must monetize. However, what has been great about Twitter for so many years is that the platform has remained relatively flat in its features, a one-size-fits-all with simple publishing and following features. This does put more layers in front of the consumer for a content wall to jump through and more layers for the publisher to manage. Suppose this feature goes mainstream, and you see content publishers use different tiers on Twitter. In that case, it will be interesting the balance brands/individuals take on content management across Twitter, other social channels, and their website.
Overview: Podcasts are exploding in the public sector; now we see spillover to the private sector.
“Now employers turning their eye to the long-term challenges of working from home and rethinking internal communications to foster connect between employees and their workplace it top of mind.”
Why It Matters: Podcast listing is up 37%, Clubhouse is betting on the future of audio when 38% of employees are reporting video call fatigue. Some businesses are finding the use of internal podcasts being a pay to personalize the company and allow employees to feel connected to the presenter/host.
Options to Consider:
- Lessons from Leadership
- Fireside Chat
Overview: John Boitnott provides some thoughts around effective networking.
Why It Matters: We are in a time when you need to be focused on building your network, and in a digital world, it is harder than ever to get this done, it takes focus, it takes energy, and above all it takes planning. John does a nice job of breaking down the how and gives some tools and techniques that you can deploy to enhance your skills.
- Active Listening
- Strategic Questions Asking
- Focusing on the other person
- Adding Value
In this article or future articles, I would love to see a playbook for how to be successful at doing this in a remote environment.
Overview: Storm Ventures, a venture firm that focuses on early-stage B2B enterprise startups, announced this week that it had promoted Pascale Diane and Frederik Groce to partners at the firm.
Why It Matters: In the article, you read about an algorithm that the two have developed, allowing them to find triggers across the social graph. If you think about the story, we just talked about the planning and effort involved in the networking. Well, there is planning and effort involved with hunting for new businesses, and these two have developed a playbook to do so and have found a way to automate much of the process. Post-Covid, it will be interesting to see trends in companies like this if they stay with their algorithm-focused approach, go to a hybrid model, or move to an entirely in-person approach. I guess they move to a hybrid model where the algorithm is used in a vetting-like function similar to a lead-scoring framework a salesperson would do.
Link: TechCrunch Article