Can you explain the Spotify Fan Conversion Rate?

For most emerging artists, the higher the Fan Conversion %, the more you are converting short-term listeners to long-term followers on Spotify. A lower percentage could signify over-indexing playlist activity or a viral hit on social media that is not converting into Spotify followers. A rate of 100% would indicate an ideal 1:1 relationship where every listener followed, likely triggering beneficial playlist and radio-related algorithms on the platform.