Spotify Unveils “Reserved” Concert Tickets For Premium Subscribers, Sets Universal Music Deal For Fan-Made Covers & Remixes

Spotify is out with a handful of buzzy new initiatives including a new Reserved feature that sets aside a pair of concert tickets for artist’s biggest fans on the platform and a new AI tool with Universal Music Group allowing fans to create covers and remixes of their favorite songs from participating artists and songwriters.

The moves were unveiled during the company’s investor day in New York along with updates on podcasts, audiobooks and advertising. The stock surged, trading up over 17% in midday trade in a rather dour market.

Reserved, for eligible Spotify Premium subscribers (ages 18+), will identify an artist’s most dedicated fans based on metrics from the platform and hold two tour tickets for them. The subscriber will a reserved window, usually about a day, to purchase the tickets before they go on sale to the general public. The feature, in partnership with Live Nation, will start in the U.S. with more markets to follow.

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