Artists, songwriters, video and content creators, podcasters, and fans from all over the world joined Spotify for our second Stream On event today in Los Angeles. Alex Cooper, Bill Simmons, Ed Sheeran, Emma Chamberlain, Jennifer Lopez, GloRilla, Halsey, Joe Rogan, The Jonas Brothers, Karol G, Luke Combs, St. Vincent, Tash Sultana, and other luminaries mixed with Spotify team members to share announcements and inspiring stories, and take part in hands-on demos of new artists tools and creator resources coming to the platform.
Stream On is about all the ways we are bringing Spotify to life and letting creators at all stages of their careers know that we are open for business, Spotify Founder and CEO Daniel Ek said. We are focused on building the best home for them-a place where they can establish a career, thrive, and grow, and where the world can be inspired by their creativity. And that's what we've been doing for almost 17 years: building, improving, and reimagining this home to better meet creator needs and help them chart new pathways to success.
From new app functionality to a holistic one-stop shop for podcasting to more opportunities for artists to engage with their fans, Stream On further cements our commitment to the creative community.
As we look to the future, we are excited to expand that ambition to even more creators across new formats. We're enabling more creativity, discovery, and personalization than ever before by providing the best resources, support, and interactivity, Daniel said.
Helping fans discover creators and artists We've unveiled one of the biggest evolutions since Spotify's inception: a new, dynamic interface on mobile built for deeper discovery and more meaningful connections between artists and fans.
With this new experience, we're giving fans an even more active role in the audio discovery process, and giving creators even more space to share their work. Powered by advanced recommendations, new visual canvases, and a completely new and interactive design, the new interface is making discovering new audio easier than ever before and helping introduce users to their next favorite artist, podcast, or book. It's all about closing the distance between creators and fans-and setting the stage for long-term, lasting connections that reach beyond viral success.
The new Spotify will roll out in waves to our 500 million+ monthly active users beginning today. Here's what to expect:
Music, podcast, and audiobook previews across Music, Podcasts & Shows, and Audiobooks feeds for listeners to sample before they play or save. We're also bringing shortcuts to the top of listeners' feeds-giving users easy access to some of their recent and favorite listens.
New feeds for discovery on Search that will allow users to quickly and easily explore personalized, short Canvas clips from tracks across some of your favorite genres. Users can easily save the song to a playlist, follow the artist, or share it with friends, all from one place. Looking for something else? Explore related genres using the hashtag within the feed, all with the goal of making discovery even easier.
We're also bringing this feature to popular playlists like Discover Weekly, Release Radar, New Music Friday, and RapCaviar, inviting users to preview tracks on a playlist before diving in.
Just like with music, we're now serving Autoplay for Podcasts-when a podcast ends, another episode that fits the user's tastes and is relevant will automatically start playing.
More to love with our personalized AI DJ that transforms how listeners hear and discover the music they love.
Smart Shuffle, the easiest way to breathe new life into custom curated playlists with just the tap of a button.
Spotify recommendations drive close to half of all users' streams. And when listeners decide to follow a creator, they listen to, on average, five times more of their music, said Gustav S derstr m, Spotify Co-President and Chief Product & Technology Officer. That's why discoveries on Spotify-unlike many other platforms-give creators so much more than just a fleeting moment of viral fame. Those meaningful, long-term connections are a key part of what makes Spotify a platform for professional and aspiring artists.
Supporting artist success through streaming We also unveiled our annual music royalties report, Loud & Clear. The 2023 update demonstrates that more and more artists are finding success than ever before: The number of artists generating $1M+, as well as those generating $10,000+, has more than doubled over the past five years. Additionally, we estimate that the 50,000th highest-earning artist on Spotify generated more than $50,000 across all recorded revenue sources.
Loud & Clear also details how Spotify pays the vast majority of every dollar it generates for music-nearly 70%-back to the industry, and all-time Spotify payouts to music rights holders are approaching $40 billion.
Enabling audience development for artists through new and enhanced tools We're always building up our suite of tools to help artists find the fans who'll love their music most. Here are a few of the new features they will soon find in the Campaigns section of Spotify for Artists:
Marquee is a full-screen, sponsored recommendation of a new release that's focused on reaching listeners who have shown interest in an artist's music. On average, Marquee is 10 times more cost-effective at getting listeners to stream music on Spotify than ads are on the most popular social media platforms.
Discovery Mode is a tool through which artists and their teams identify priority songs, and Spotify will add that signal to the algorithms that shape personalized listening sessions. Today, Discovery Mode is directly available within Spotify for Artists, and
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Artists, songwriters, video and content creators, podcasters, and fans from all over the world joined Spotify for our second Stream On event today in Los Angeles. Alex Cooper, Bill Simmons, Ed Sheeran, Emma Chamberlain, Jennifer Lopez, GloRilla, Halsey, Joe Rogan, The Jonas Brothers, Karol G, Luke Combs, St. Vincent, Tash Sultana, and other luminaries mixed with Spotify team members to share announcements and inspiring stories, and take part in hands-on demos of new artists tools and creator resources coming to the platform. 
