In what the Stockholm-based company described as Spotify's 'most significant upgrade' since it launched in 2008, the service will now allow users to display and share their music preferences more easily through a Spotify Music Profile.
The profile means users can create and store their favourite playlists, which can also be transferred wirelessly to mobile devices and shared with friends.
Users will be able to tag their favourite track or album, as well as share song choices with other Spotify users within the platform or with friends using Facebook Connect.
The update will allow users to publish their profile anywhere on the web, including on their Facebook profile, as well as publish their weekly top six tracks.
The abitlity to import a link to local files stored on a user's computer means complete collections can now be integrated into the player making it a 'total music management platform'.
Spotify founder and chief executive Daniel Ek said the site had "moved a step closer to making music more connected".
Ek said: "We want to empower users to share and discover music in a way that hasn't been possible up until now. It's never been easier to enjoy music together."
A spokesman for Spotify said the new features would create a more engaged user experience, increasing the platform's power to advertisers.
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