{"id":582540,"date":"2023-03-09T00:00:00","date_gmt":"2023-03-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/09\/spotify-is-taking-a-leaf-out-of-tiktoks-playbook-shein-has-lots-of-ambitious-financing-plans-on-deck-this-year\/"},"modified":"2023-03-09T00:00:00","modified_gmt":"2023-03-09T00:00:00","slug":"spotify-is-taking-a-leaf-out-of-tiktoks-playbook-shein-has-lots-of-ambitious-financing-plans-on-deck-this-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/09\/spotify-is-taking-a-leaf-out-of-tiktoks-playbook-shein-has-lots-of-ambitious-financing-plans-on-deck-this-year\/","title":{"rendered":"Spotify is taking a leaf out of TikTok\u2019s playbook + Shein has lots of ambitious financing plans on deck this year"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Spotify rolls out TikTok-style clips to boost user engagement:<\/span><span style=\"\"> Swedish music streaming<\/span><span> giant Spotify launched \u201cPreviews\u201d yesterday, a new video feed of short clips showcasing songs, podcasts, and audiobooks, the company said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/newsroom.spotify.com\/2023-03-08\/spotify-previews-clips-music-podcasts-audiobooks-home-feed\/\" style=\"\">statement<\/a><\/span><span style=\"font-weight:400;\">. The recommendations are generated algorithmically, similarly to TikTok videos and YouTube Shorts.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The strategy:<\/span><span style=\"\"> The new feature aims to boost what the company calls \u201cforeground discovery,\u201d<\/span><span> co-presidents Gustav S\u00f6derstr\u00f6m and Alex Norstr\u00f6m told the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/spotify-launches-new-video-feed-to-keep-listeners-listening-ece6f21d?mod=hp_lista_pos2\" style=\"\">Wall Street Journal<\/a><\/span><span style=\"font-weight:400;\">. Rather than discovering new music through viral TikTok trends and coming to Spotify to stream it, the company wants users to unlock new tracks natively \u2014 a factor it believes is key to retaining users.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Spotify has been facing the music:<\/span><span style=\"\"> The company recorded a net operating loss of EUR 231<\/span><span> mn in 4Q 2022, according to its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/SPOTIFY-Q4-2022-RESULTS.pdf\" style=\"\">earnings release (pdf)<\/a><\/span><span> and announced in January that it plans to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/24\/this-morning-our-first-defeat-in-the-handball-world-championship-now-on-to-the-quarter-finals-tomorrow-94358\/\" style=\"\">slash 6% of its workforce<\/a><\/span><span> as it works to streamline operations. In 2019, it introduced a pricey podcast strategy, which has since seen it spend north of USD 1 bn on podcast companies and talent, the WSJ reports. Many of the executives leading the strategy have departed, however, and the company has now shifted its focus to cutting costs and \u201cmaking good on those investments.\u201d<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Chinese online apparel retailer Shein has ambitious financing plans this year<\/span><span style=\"\">, as it looks<\/span><span> to raise around USD 2 bn in a funding round, followed by a US listing in the back half of 2023, Reuters <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/china\/chinas-shein-set-raise-2-bln-eyes-us-ipo-later-this-year-sources-2023-03-08\/\" style=\"\">reports<\/a><\/span><span>, citing sources with knowledge of the matter<\/span><span>. The company has <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/01\/22\/best-start-ever-for-bonds-as-nearly-usd-600-bn-in-issuances-flood-global-market-94066\/\" style=\"\">slashed its valuation<\/a><\/span><span style=\"font-weight:400;\"> by a third from last year\u2019s USD 64 bn ahead of the funding round. Previous investors General Atlantic, Sequoia Capital China, and the UAE\u2019s Mubadala will be joined by Tiger Global Management this round, Reuters\u2019 sources said. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Where\u2019s the money going? <\/span><span style=\"\">The company and its investors refused to comment on the matter<\/span><span style=\"font-weight:400;\"> but it looks like Shein is moving forward with a bullish expansion plan. The growth strategy includes expansion in Europe, starting with a new team in Ireland and a new facility in Poland, after having begun production in Turkey.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Growing despite controversy:<\/span><span style=\"\"> The <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/01\/ultra-fast-fashion-comes-at-a-hefty-price-95201\/\" style=\"\">Chinese company came under fire<\/a><\/span><span style=\"\"> over several reports<\/span><span> that scrutinize its alleged labor violations and environmentally damaging practices, which some critics say are on a larger scale than any of its fast-fashion peers. The overseas IPO will be watched closely as China published new rules laying out how companies might list overseas last month. Following a regulatory crackdown, those regulations led to a slowdown in the number of Chinese companies listing in the United States.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Spotify rolls out TikTok-style clips to boost user engagement: Swedish music streaming giant Spotify launched \u201cPreviews\u201d yesterday, a new video feed of short clips showcasing songs, podcasts, and audiobooks, the company said in a statement. The recommendations are generated algorithmically, similarly to TikTok videos and YouTube Shorts. The strategy: The new feature aims to boost [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":582541,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7215],"tags":[633,638,717,1464],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-582540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-your-commute","tag-enterprisepm","tag-for-your-commute","tag-spotify","tag-tiktok","wpautop","entry"],"acf":{"mongo_id":"80e1be3a-7e59-4e97-a032-e16775d64a7b","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/music-1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[582535],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.01cfc2fb-12b8-4d23-9deb-0a54d986b885.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Spotify is taking a leaf out of TikTok\u2019s playbook + Shein has lots of ambitious financing plans on deck this year - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/09\/spotify-is-taking-a-leaf-out-of-tiktoks-playbook-shein-has-lots-of-ambitious-financing-plans-on-deck-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spotify is taking a leaf out of TikTok\u2019s playbook + Shein has lots of ambitious financing plans on deck this year\" \/>\n<meta property=\"og:description\" content=\"Spotify rolls out TikTok-style clips to boost user engagement: Swedish music streaming giant Spotify launched \u201cPreviews\u201d yesterday, a new video feed of short clips showcasing songs, podcasts, and audiobooks, the company said in a statement. 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