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Social Media Is Taking The Store: 3 Surprising Reasons Facebook, Snapchat, Spotify Are Into Retail

AFP/Getty ImagesGetty This is what several social media networks seem to think. Platforms from Snapchat to Facebook have been investing in retail to capture broader consumer interest and, apparently, boost revenue and followers. Here’s what some social platforms are trying, and why it matters to shoppers. The Sound of Brew-sic Starbucks in 2015 integrated the Spotify mobile app with the Starbucks My Rewards program, making the platform the default music source in all 7,000 Starbucks-owned stores in the U.S. Through the partnership, 15.3 million reward members can listen to Starbucks music on Spotify, influence store playlists and earn reward stars. Also, and importantly, the agreement specifies that Starbucks promote Spotify Premium. At the time of the deal, Spotify was battling competition from rivals such as Apple Music and facing criticism from influential artists, like Taylor Swift, who said it didn’t fairly compensate music creators. But those Starbucks Rewards apparently encouraged Premium purchases: From the end of 2015 to the end of 2017, Premium Spotify subscribers rose to 71 million from 28 million, according to public records. [“source=forbes]