 The last six months have seen a lot of drama in the world of streaming music. Taylor Swift pulled her catalog from Spotify, a bunch of big artists got together and launched Tidal, and YouTube decided that it would get in on the streaming music game as well. What happened today was Spotify diversified into video, podcasts, and fitness. So Spotify had a bunch of big announcements today in New York. They're adding video, they're adding podcasts, and they're adding this beat matching sort of fitness stuff into the app. We've seen Spotify do streaming music, and we've also seen that it's incredibly difficult to make a profit doing that. Spotify's revenues have grown to over a billion dollars, but their losses have grown even faster. Today's announcement was really about Spotify becoming a diversified media platform. Now they can run ads in front of video, they can sell people on health and fitness services, and of course they can do podcasts, which is a great complement to the audio stuff they already have. Spotify is now looking to take on everyone from YouTube to Snapchat, kind of a new media mobile company, not just a music streaming service.
 The last six months have seen a lot of drama in the world of streaming music.
 Taylor Swift pulled her catalog from Spotify, a bunch of big artists got together and launched
 Tidal, and YouTube decided that it would get in on the streaming music game as well.
 What happened today was Spotify diversified into video, podcasts, and fitness.
 So Spotify had a bunch of big announcements today in New York.
 They're adding video, they're adding podcasts, and they're adding this beat matching sort
 of fitness stuff into the app.
 We've seen Spotify do streaming music, and we've also seen that it's incredibly difficult
 to make a profit doing that.
 Spotify's revenues have grown to over a billion dollars, but their losses have grown even
 faster.
 Today's announcement was really about Spotify becoming a diversified media platform.
 Now they can run ads in front of video, they can sell people on health and fitness services,
 and of course they can do podcasts, which is a great complement to the audio stuff they
 already have.
 Spotify is now looking to take on everyone from YouTube to Snapchat, kind of a new media
 mobile company, not just a music streaming service.