Throughout Spotify’s second-quarter earnings name this morning, CEO Daniel Ek teased just a few methods the streaming service might introduce further AI-powered performance. Ek touched on how AI may very well be used to create extra customized experiences, summarize podcasts and generate adverts.
Earlier this yr, the corporate launched a DJ characteristic that delivers a curated collection of music alongside AI-powered spoken commentary concerning the tracks and artists you want. Ek says customers can count on to see related AI-powered options that intention to contextualize and personalize content material throughout the streaming service sooner or later.
“DJ is an exceptional product,” Ek mentioned throughout the name. “It’s in all probability one in all my private favorites over the previous few years that now we have developed, and we’ve seen actually sturdy shopper interactions with that. And that simply talks concerning the capability for us to contextualize and personalize all of the superb content material that we’re have on the Spotify platform. So I feel you’re going to see much more of that the place we are able to contextualize and personalize content material throughout your entire platform to make it extra accessible.”
One of many methods Spotify could use generative AI is by leveraging it to summarize what podcasts are about, as it may be considerably tough to get into new podcasts. Ek mentioned doing so might make it simpler to merchandise new podcasts for customers, which might in flip result in greater engagement and extra development for creators.
Ek says one other approach AI may very well be used to make Spotify extra environment friendly is thru AI-generated audio adverts.
“By utilizing generative AI and our instruments right here, I feel you’re going to have the ability to see that we are able to considerably cut back the associated fee that it takes for advertisers to develop new advert codecs,” Ek mentioned. “And that clearly implies that you as an advertiser as a substitute of getting one advert, you’ll be able to think about having hundreds and examined throughout the Spotify networks, issues that you would simply do in the present day utilizing textual content however you haven’t been capable of do over video or in audio.”
Ek’s feedback come as Spotify is searching for a patent for an AI-powered “text-to-speech synthesis” system. The patent was revealed on July 20 and filed again in February. The expertise can take textual content and convert it into human-like speech audio that includes emotion and intention. The system can create sensible speech that’s able to conveying feelings comparable to anger, happiness or disappointment, together with intentions comparable to sarcasm. It’s additionally able to doing so in a whispering or shouting method, and in accents.
The patent signifies that Spotify is trying to transcend its DJ characteristic, which merely says just a few AI-powered sentences between songs. The text-to-speech synthesis system has the potential for use for issues like narrating audiobooks utilizing AI in a approach that sounds pure. It’s value noting that Apple launched AI-powered audio narration for choose titles on Apple Books early this yr.
The patent submitting and Ek’s feedback come as Spotify has been investing in AI voice expertise. Final yr, the streaming service acquired Sonantic, a London-based startup that has constructed an AI engine to create realistic-sounding human voices from textual content, for an undisclosed sum. Spotify leveraged the acquisition to energy its AI DJ characteristic.
Spotify’s second-quarter earnings revealed that there are at present 220 million individuals who pay for a Spotify subscription around the globe — that quantity is up 17% yr over yr. Total, Spotify now has 551 million month-to-month energetic customers. The corporate reported practically €3.2 billion ($3.5 billion at in the present day’s alternate charge) in income for the latest quarter. Income is up 11% yr over yr. Nevertheless, Spotify additionally reported €247 million ($274 million) in working loss .
Spotify additionally introduced a worth hike for its premium plans yesterday. Within the U.S., a person premium plan will now price $10.99 monthly as a substitute of $9.99. The duo plan will price $14.99 as a substitute of $12.99 and the household plan can be priced at $16.99 as a substitute of $15.99.